US stocks sag as New York shuts schools on Covid-19 rise

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The Dow Jones Industrial Average finished down 1.2 per cent at 29,438.42.. Read more at straitstimes.com.

NEW YORK - Wall Street stocks fell for a second straight session on Wednesday , tumbling after New York City ordered public schools closed with anxiety over the coronavirus deepening.

The move came as US coronavirus cases tick higher, with Johns Hopkins University reporting nearly 162,000 new cases in the last day.The broad-based S&P 500 also shed 1.2 per cent to 3,567.79, while the tech-rich Nasdaq Composite Index lost 0.8 per cent at 11,801.60. Still, Hogan noted that stocks are still at a high level, with both the Dow and S&P 500 ending at records on Monday.

Boeing ended 3.3 per cent lower after the Federal Aviation Administration cleared the 737 Max to resume service following a 20-month shutdown. Shares had initially soared after the announcement, which had been widely expected.

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