Stocks have worst day in a month as US virus cases soar to new heights
The stock market had its worst day since Sept. 3, as COVID-19 cases spiked across the country and industries that needed a return to normalcy, like cruise lines and airlines, saw big losses.
The Dow Jones Industrial Average closed 650 points lower, down 2.3%, to 27,685, while the S&P 500 fell 1.6% to 3,400 and the NASDAQ declined 1.6% to 11,358.
"It’s kind of a perfect storm," Ross Mayfield, an investment strategy analyst at Baird, told The Associated Press. "The record case numbers and the kind of rolling lockdowns across Europe are getting the headlines. Oil is down on some supply and demand issues. Stimulus seems more and more unlikely by the day, at least pre-election."
ABC News' Rebecca Jarvis contributed to this report.