Stocks have their worst day in a month as virus cases surge

FILE - In this Monday, Sept. 21, 2020, file photo, a Wall Street street sign is framed by a giant American flag hanging on the New York Stock Exchange in New York. Stocks are falling in early trading on Wall Street Monday, Oct. 26, 2020, and deepening last week’s losses.

The S&P 500 slid 1.9%, its biggest single-day decline in more than a month. The Dow Jones Industrial Average dropped 650 points after having been down more than 960 during the heaviest selling. Technology companies drove much of the broad sell-off, though losses in communications services, financial and industrial stocks helped weigh down the market. Energy stocks also dropped in tandem with crude oil prices.

The S&P 500 fell 64.42 points to 3,400.97. The Dow slumped 650.19 points, or 2.3%, to 27,685.38. The Nasdaq composite lost 189.34 points, or 1.6%, to 11,358.94. Smaller company stocks also took heavy losses, knocking the Russell 2000 index down 35.29 points, or 2.2%, to 1,605.21.in much of the United States and Europe, raising concerns about more damage to the still-weakened economy. The U.S. came very close to setting back-to-back record daily infection rates on Friday and Saturday.

“While we are seeing nations attempt to stifle the spread of the virus through more localised and tentative restrictions, it seems highly likely that we will eventually see a swathe of nationwide lockdowns if the trajectory cannot be reversed,” said Joshua Mahony, senior market analyst at IG in London.The U.S.

Among the market’s few gainers were companies that can succeed even in a stay-at-home economy. Zoom Video Communications gained 1.2%. Across the S&P 500, profit reports for the summer have been mostly better than Wall Street had feared, though they’re still on pace to be more than 16% lower than year-ago levels. Through Friday, 84% of S&P 500 companies reported better results than analysts had forecast, according to FactSet. If that level holds, it would be the best since at least 2008, when FactSet’s records begin.

IRS_CI, SEC_Enforcement allowing Automobile companies to change dealer names & void warranties, not pay Tax on gain of not servicing those warranties. Fraudulent SEC Filings IRS_CI Destroyed documentation 2020-007235 TIGTA TRN-2009-0433 & TRN-2010-0201

And profits $$ are made shorting the markets as shown from eduWallStreet

So if this is trump’s benchmark for a good economy, what does he have to say today?!?! VoteBlueToEndThisNightmare

The Dow is 2k points below its high of 2019 after *Tax cut from 31% to 17% *Half trillion in loans *Fed rate cuts *Trillion in bailouts *Paycheck protection *Fed buying junk bonds to inflate market 2 of 3 years since he signed the TAX SCAM the down has dropped! TrumpIsLosing

EU and Sweden now both exhibit herd immunity. Cases swell but death rate is stable.

TRUMP SUCKS. THE DOW WAS WAY BETTER UNDER OBAMA

Prove it

Pro tip. Buy the dips.

Gonna be right back up to record levels when Trump wins his re-election. 🤷🏻‍♂️

We can thank Donald J Trump for this.

WhiteHouse senatemajldr

Does your wealth depend on stocks?

Maybe Trump will notice, it’s his administration’s refusal to take basic, essential steps to try to keep the virus under control, that has caused this latest fall! TrumpIsLosing

Hey, maybe he'll brag about this at his rallies.

It has been 239 days since the first Covid 19 death. The USA has had an average of 968 people die every single day since Feb 29th.

😷

Wait until the Dow Jones Industrial Average drops 10k points.

Wait until you see how far it falls when Biden is elected.

Is that 1.5 trillion that Trump pumped into corporate bonds running out already?

They see Biden winning.. markets do not like Biden. Our bank accounts and investments don’t like Biden. People are throwing away money voting for this clown. Expect short stock declines end of year if he’s elected.

Who would have thought that not controlling a virus would damage the economy? Hmmm

The stock market is fake as long as your average Joe isn't making any money off of it.

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