Dow sinks 650 pts as pandemic fears rise

Monday, 26. October 2020 16:08

Equities on Wall Street fell deeper on Monday with the Dow Jones plunging more than 650 index points amid a resurgence in coronavirus infections across the globe that raised investors' concerns over containing the pandemic and the economic rebound from the crisis. The number of COVID-19 cases surpassed 8.6 million as more than 60,000 infections were registered in the past day.

On the data front, new home sales in the United States slid 3.5% on a monthly basis in September, failing to meet analysts' expectations.

The Dow dropped 2.23% at 11:11 am ET, while the Nasdaq 100 lost 1.40% and the S&P 500 slipped 1.85% concurrently. The euro went down by 0.40% to go for $1.18126 at 11:13 am ET.

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