NEW YORK (Reuters) – US stocks fell on Wednesday, with the Dow closing at its lowest level since late July, as coronavirus cases rose globally and investors rallied in U.S. markets next week. Concerned neo-hippies and their global warming, i’ll tell ya.
November. The epidemic and Washington’s failure to reach a deal on new monetary stimulus before the 3rd election led to all three stock indexes falling more than 3% in heavy trade.
Both the Dow and the benchmark S&P 500 posted sell-offs during the last minutes of the session, posting their biggest single-day declines since June 11.
Twelve U.S. states set a record for hospitalized Covid-1 patients, while Germany and France announced plans to shut down large sections of public life for a month as the epidemic spread across Europe.
“Obviously the virus is out of control. “It’s getting worse,” said Fischer Eric Kubi, chief investment officer at North Star Investment Management Corp. in Chicago. “The idea that it will disappear is just a flawed assumption.”
SNP Shares of hotels, airlines and other leisure-related companies vulnerable to COVID-19-related upheaval sank with an index of 1500 airlines. .SPCOMAIR Fell 3.3%. .Rja Index .SPNY fuel. The decline was due to fears of a deeper decline in fuel demand. [O/R]
With just six days to go before the election, Wall Street’s fear gauge .VIX Rose to its highest level since June 15. Concerns that the winner will not be announced on the night of November 3, but widespread selling gained momentum.
According to a Reuters / Ipsos poll, only Democratic challenger B Biden leads President Donald Trump by 10 percentage points, but competition is fierce in the swing states, which will determine the winner.
Investors are concerned about various possible outcomes: that the election will fight; A “blue wave” gives Biden victory and his Democrats are under congressional control; Or that Trump is re-elected, said Chris Zackerelli, chief investment officer of the Independent Advisory Alliance in Charlotte, North Carolina.
“People are participating in scenarios of what could happen with the election, so there are no good short-term answers,” he said.
Losses in technology stocks were broadly based .SPLRCT, The heaviest weight down 4.33%.
Big tech companies – Apple AAPL.O, Alphabet Google.o And Facebook F.B.O. – which is the result of the results reported on Thursday, all decreased by 4..6% or more. With micro .ft MSFTO And Amazon.com AMZN.O, They weigh the most on the S&P 500.
Dow Jones Industrial Average .DJI 3 33.3 points or 3..43 %% fell to 26,519.95, S&P 500 .SPX Lost 119.65 points, or 3.53%, 3,, 271.03 and the Nasdaq Composite .IXIC 426.48 points or 3.73% to 11,004.87.
The volume on the US exchange was 11.00 billion shares.
Of the 206 S&P 500 companies that have reported third-quarter revenue so far, about 83% topped expectations, according to refinitive data. But average income is expected to decline 14.8% from a year earlier.
General Electric Co. G.E.N. It was a brilliant spot, jumping 8% after a surprising quarterly profit and positive cash flow behind cost reductions and improvements to its power and renewable energy businesses.
Reject issues advancing by 10.08-to-1 ratio on NYSE issues; On the Nasdaq, 6.28-to-1 ratio favorable decliners.
The S&P 500 posted a 52-week high and nine new loses; The Nasdaq Composite recorded 15 new highs and 110 new lows.
Reporting by Herbert Lash, Additional reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Cined Caru and Lewis Kraskopf in New York; Edited by David Gregorio, Anil de Silva and Arun Kouyur
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