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.

Stocks also weakened across much of Europe and Asia. In another sign of caution, Treasury yields were pulling back after touching their highest level since June last week. Hopes are fading, meanwhile, that Washington will be able to provide more support for the economy anytime soon. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke several times last week on a potential deal to send cash to most Americans, restart supplemental benefits for laid-off workers and provide aid to schools, among other things.

“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.

Stocks of companies that need the virus to abate and the economy to return to normal were logging some of the sharpest losses in morning trading.Energy stocks dropped to the largest loss among the 11 sectors that make up the S&P 500, falling in concert with oil prices. Nearly 95% of the stocks in the index were lower.

This upcoming week is the busiest of this quarter's earnings season, with more than a third of the companies in the S&P 500 index scheduled to report. Besides Amazon and Apple, Ford Motor, General Electric and Google's parent company, Alphabet, are also on the docket.

Always happens right before the election

ThisWeekABC Our worthless GOP is to blame. Thankfully we can do something about them in a few short days!

A whole entire month? Oh, the horror......

Stocks are on sale again. Buy early tomorrow.

Open the damn country democrats

Oh really ? I didn’t know that

And if Trump is re-elected the country will go down the drain, total chaos.

It was more important for the republicans to ram through a SC justice to take away healthcare from millions and control what women can do with their bodies.

Thanks evil Pelosi 😡

What says individual one today.

Finally, Wall Street is catching up to the pain on the Main Street.

Gus_802

Everyone recognized it but Trump...

Thanks crazy Nancy

Meanwhile, realDonaldTrump calls the media “losers” for reporting on Covid related news. VOTE

📈📉📊

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