Dow ends 3.4% lower as COVID-19 worries rout US stocks

The moves are certain to weigh on Europe's economy and sharpen worries that the US could follow suit in the coming weeks if cases continue to mount.

An estimate of US third-quarter GDP set for release on Thursday is expected to show a historically big jump in activity compared to the second quarter, but investors are expecting much more uncertainty in the final quarter of the year."The strength of the economy over the summer has been vindicated," said FHN Financial's Chris Low."But the strength of the fourth quarter is very much up in the air.

Low said investors have been disappointed with Congress's failure to enact additional stimulus. He also said investors are increasingly worried fiscal support could face obstacles after the Nov 3 election if the vote again results in a government split between Democrats and Republicans. While losses were broad-based, Facebook, Twitter and Google parent Alphabet all fell sharply amid a contentious Senate hearing in which Republicans accused the companies of suppressing conservative content.

Among companies reporting results, Boeing slid 4.6 per cent as it reported another quarterly loss and announced anotherSource: AFP/kv

Its about not getting the giant US stimulus, the air that filling the bubble.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500, Dow slip on worries about earnings, US stimulus outlookInvestor sentiment sagged after the White House said a deal on Covid-19 relief will unlikely come before the Nov 3 election.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

S&P 500, Dow slip on worries about earnings, US stimulus outlookStocks on Wall Street closed little changed on Tuesday, with the Dow and S&P 500 slipping on disappointing earnings and little hope for a U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

S&P 500, Dow slip on earnings worries, stimulus uncertaintyREUTERS: The S&P 500 and Dow fell on Tuesday, dragged down by a string of earnings disappointments and doubts about a coronavirus stimulus package ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Stocks mostly fall on worries over economy, Covid-19[NEW YORK] Wall Street stocks finished mostly lower on Tuesday amid worries over the economy and Covid-19 as well as lackluster consumer data and mixed earnings. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »