Wall Street sank again on Wednesday, as soaring coronavirus infection rates pushed some cities to introduce a new round of restrictive measures and France and Germany reintroduced monthlong lockdowns.
The Dow Jones Industrial Average closed down by around 940 points Wednesday afternoon, its worst day since June. The blue-chip index lost all gains for October, falling well below the 27,000 mark after a volatile session. The S&P 500 and the Nasdaq composite index both ended the day down by around 3.6 percent.
“The stock market is reacting to a surge in coronavirus cases and a lack of stimulus that together threaten to hamstring the economic recovery. Election uncertainty isn’t driving this,” said Greg McBride, chief financial analyst at Bankrate.
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