Business

Stocks tumble as COVID-19 cases surge

Wall Street tumbled on Monday as coronavirus, Washington intransigence and earnings weigh on the market. US stocks sank at the opening bell in New York, and the selloff gathered pace as the session went on. Around midday, the Dow (INDU) was down 820 points, or 2.9 per cent. Not a single Dow stock was in the green. At this rate, the index is on track for its worst day since June. The S&P 500 (SPX) — the broadest measure of the US stock market — fell 2.3 per cent, on pace for the S&P’s worst day since late September.

The tech-heavy Nasdaq Composite (COMP), which had briefly bounced back from its lows in the morning, dropped two per cent around midday, putting it on track for the worst day since the start of the month. Energy, industrials and financials stocks are the among the worst performers of the day. There’s a lot for investors to grapple with: The election is only eight days away, there’s still no new stimulus package and the first look at how the economy fared in the third quarter will be reported on Thursday.

Big Tech companies will report earnings this week as well, including Microsoft (MSFT), Apple (AAPL), Google (GOOGL), Facebook (FB) and Twitter (TWTR). While earnings will inject volatility in the tech sector, “on a more macro level, ongoing US stalemate over US fiscal stimulus and the rapidly spreading Covid-19 is going to determine the direction for the wider markets,” said Fawad Razaqzada, market analyst at Think Markets, in a note. The ever-slimming chance of a new stimulus package before next week’s election isn’t a new factor for the market.

SHOCKING LIFE STORY!!!

Abuja Man reveals (FREE) secret Fruits that Increased his Manh00d size and Lasting Power in 5days…

CLICK HERE TO GET IT!!!

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica