Rising cases in Europe and a number of geopolitical risks led to a sharp fall in U.S. stocks on Monday on the sale of risky assets on Wall Street. Dow Jones Industrial Average DJIA,
The pace for the fastest daily decline since April at the Factset data show stood at 26,991, down 839 points or 3%. S&P 500 Index SPX,
The Nasdaq Composite Index (COMP) retreated 2.6% to 3,233.
Fell 2.4% to 10,539. In Corporate News, Nicola NKLA,
Founder and chairman Trevor Milton is stepping down after fighting claims by a short seller over the past few weeks. The growing number of Covid-1 cases in many European economies has led to fears of new restrictions on activity. London Mayor Sadiq Khan was in the discussion on Monday to discuss the introduction of new measures to prevent the spread of coronavirus. Meanwhile, shares of US and European banks were set to plummet after BuzzFeed News and other outlets published an article alleging that the world’s most powerful banks were doing business with customers who were involved in money laundering and other illegal activities. There was suspicion. SPDR Financial Select Sector ETF XLF,
There was a sharp drop on Monday.
.
