S&P 500, Dow slip on worries about earnings, U.S. stimulus outlook

Investor sentiment sagged after the White House said a deal on COVID-19 relief could come in “weeks,” meaning a deal is unlikely before the Nov. 3 election.

Shares of drugmaker Eli Lilly and Co fell 6.9% after quarterly profits took a hit from increased costs to develop a COVID-19 treatment. A trial of its antibody therapy failed to show a benefit in hospitalized patients. The facade of the New York Stock Exchange is pictured in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar

Democratic challenger Joe Biden leads President Donald Trump in nationwide polls but the race is much tighter in battleground states which should determine the outcome. Concerns over a rise in U.S. coronavirus cases are weighing on the market but the technology sector seems to be the least exposed, said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.

The exchange is reacting because of Trump and Pence's many lies

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All 30 Dow stocks are falling, led by American Express and BoeingThe Dow is down more than 800 points, with all 30 components falling, as the recent surge in new COVID-19 cases and the lack of progress on stimulus talks shakes investor confidence. Pretty obvious correction going on we've had decent season and it could be costly now Where are all the $BA pumpers now 😂 Stimulus.... Ms. Pelosi the Democrats sitting on it to hurt President Trump. Its how crude these Democrats think, 'destroy' to win. Win what ? Control poverty ?
Source: MarketWatch - 🏆 3. / 97 Read more »