Dow Jones Drops 900 Points As Coronavirus Spikes & Stimulus Talks Stall

So. Much. Winning. With talks for a fiscal stimulus package stalled and coronavirus infections spiking in states across the U.S., the stock market tanked to the tune of 900 points on Monday. From CNBC:

The Dow Jones Industrial Average traded 900 points lower, or 3.2%, and was headed for its biggest one-day loss since June 11. The S&P 500 slid 2.7% and the Nasdaq Composite dipped 2.5%.

Monday’s decline erased the monthly gains for the Dow industrials.

The decline came amid a record surge in new coronavirus cases in the U.S. The country saw more than 83,000 new infections on both Friday and Saturday after outbreaks in Sun Belt states, surpassing a previous record of roughly 77,300 cases set in July, according to data from Johns Hopkins University.

The data also showed the country has reported an average of 68,767 cases per day over the past seven days, a record.

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— Bloomberg (@business) October 26, 2020