Stocks stumble on surge in virus cases, elusive US stimulus

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The Dow closes 2.3% lower on Monday, October 26, the index's worst session since early September 2020.

Wall Street had its worst session in weeks on Monday, October 26, driven by spiking virus cases globally that could mean new business-strangling containment measures, as well as the worsening prospects of new stimulus for the United States economy.

"There will probably be gridlock if Biden wins but the Democrats don't take the Senate," said Gregori Volokhine of Meeschaert Financial Services. But there has been no agreement yet, with Treasury Secretary Steven Mnuchin saying last week"significant differences" remain with Democrats.

 

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