Dow Slides as Covid-19 Surge Worries Wall Street

Stocks fell sharply Thursday as a resurgence of the coronavirus has Wall Street worried that new restrictions aimed at curbing the pandemic will lead to a halt in any economic recovery.

Federal Reserve Chairman Jerome Powell warned at a European Central Bank forum that the next few months will be challenging as the coronavirus spreads throughout the U.S. and the world.

The Dow Jones Industrial Average fell 340 points, or 1.16%, to 29,057, the S&P 500 fell 1.14% and the Nasdaq dropped 0.7%.

Hospitalizations from Covid-19, the disease caused by the coronavirus, have jumped in the U.S., particularly in the Midwest. The U.S. recorded more than 152,000 new infections on Wednesday, according to data analyzed by Bloomberg.

Source link

Add a Comment