The Dow Jones Industrial Average was down 2.3%, nearly 650 points, on Monday, while the S&P 500 fell 2% and the tech-heavy Nasdaq Composite dropped 1.8%.over the weekend: The U.K. is reportedly considering another lockdown, while countries like France and Spain have seen an alarming rise in new infections.
Fears that a second wave of coronavirus could lead to further government restrictions and lockdowns caused shares of companies that would benefit from a reopening of the economy—including airlines, cruise operators and retailers—to plunge on Monday. Technology stocks, the main source of the recent sell-off, again dragged the market lower: Shares of Apple, Amazon, Google-parent Alphabet and Facebook all fell by 2% or more.
What’s more, stocks moved lower thanks to uncertainty around the next coronavirus stimulus bill, which could become more complicated after the passing of Supreme Court Justice Ruth Bader Ginsburg over the weekend. Trump said he would nominate someone to take Ginsburg’s seat by Friday or Saturday: That’s likely to cause a heated debate between Democrats and Republicans in Washington, meaning that an agreement on a new coronavirus relief bill now looks more unlikely than ever before the November election.Shares of electric vehicle maker Nikola, meanwhile, plunged over 20% after the company said founder Trevor Milton isas executive chairman.
skleb1234 and some other reasons
skleb1234 Covid-19 isn't going away.
skleb1234 Approximately two weeks following the Labor Day weekend.
skleb1234 TrumpWantsToKillUs TrumpIsAMassMurderer TrumpIsACompleteFailure
skleb1234 Approximately two weeks after the Labor Day weekend, no surprise ... the inevitable spike.
skleb1234 There's that whole correlation vs. causation problem and there really isn't even correlation.
skleb1234 Yes, we know it wont magically disappear without immunity or a vaccine. Its lower now though then where anyone expected it to be 2 months ago, so thats a good sign.
skleb1234 Dow doesn’t care about Coronavirus. If it did it would’ve fallen six thousand points. Something else is happening!
skleb1234 The big banks have been laundering money. That should be the headline on the drop.
skleb1234 What? I thought it was just going away...
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »