Soaring COVID-19 case counts throughout the US dragged consumer confidence to an eight-week low.
The decline follows steady gains in September and comes as rising coronavirus cases revive concerns of another economic shutdown.The resurgence of COVID-19 cases in the US dragged consumer sentiment to its lowest point since August. While less frequently updated economic indicators show the US maintaining a steady pace of recovery, soaring coronavirus case counts risk curtailing the rebound. France and Germany announced partial lockdowns on Wednesday to stem the virus's spread in Europe.
Worsening sentiments among Republicans fueled most of the index's recent declines. Republicans' confidence in the economy sits at 63.6, its lowest point since August. Still, the reading stands well above Democrats' figure of 40.9 and independents' reading of 40.7.grew a record 33.1%
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Instant View: U.S. stocks tumble again as election looms, virus spread balloonsWall Street's main indexes slumped on Wednesday, briefly losing more than 3%, as a surge in coronavirus cases dashed hopes of a quick global economic recovery and traders got nervous before next week's U.S. presidential election. Markets are pricing in a Biden win..so the big guys are getting out to hold on some cash...will decline further & once again billions will be made when they buy back in..the rest of the ppl will complain cause they stuck in debt and can't do anything..but hey you own a house lol Maybe the Fed's influx of cheap money only goes so far? The virus spread if far worse in Europe, so old Trump must be doing something right, eh?
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