U.S. stocks steady on COVID worries; Netflix weighs on Nasdaq

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Netflix slump reins in Nasdaq's upward move as the Dow surges nearly 200 points

U.S. stocks were steady early Wednesday as rising COVID-19 infections around the world contribute to worries over global economic growth, while the Nasdaq index saw some pressure after Netflix Inc. reported disappointing subscriber numbers.

What’s driving the market? Stocks have seen a modest pullback after the S&P 500 index and Dow ended at records on Friday, with analysts largely tying the decline to concerns about a renewed rise in COVID-19 infections around the world, particularly in India and Japan. India reported a record number of cases again on Wednesday, counting more than 200,000 for a seventh straight day. The country’s hospitals are reported to be filling rapidly, it is running out of ICU beds and running low on oxygen. News reports said Japanese officials were considering ordering a state of emergency for Tokyo and Osaka due to surging COVID-19 cases.

 

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