The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight.
President Donald Trump says he has instructed aides to stop negotiating on another round of COVID-19 relief until after the election.
Stocks are falling sharply on Wall Street Thursday as coronavirus cases increase again, deflating recent optimism that the economy could recover quickly as lockdowns ease.
U.S. equity markets surged to their best levels in months as states continued to reopen and as traders returned to the New York Stock Exchange for the first time since shutting down on March 23 to slow the spread of COVID-19.
The rapid and uncontrolled spread of coronavirus has generated levels of fear, uncertainty and volatility that can make sound investing decisions difficult.
U.S. equity markets gained Monday despite concerns U.S. states are reopening too quickly after an uptick in COVID-19 cases in Asia.
Equity investors kicked into sell mode on the first trading day of the month as Big Tech and Big Oil warned that COVID-19 is hurting business during their quarterly earnings updates.
The S&P and the Dow Jones Industrial Average wrapped the best month since 1987 despite sliding on Thursday as total job losses related to the coronavirus shutdown topped 30 million.
Stocks erased losses as investors focus on economic restart.
The Dow Jones Industrial Average plunged as many as 716 points, or 2.99 percent, while the S&P 500 and Nasdaq Composite fell 2.97 percent and 2.43 percent, respectively.
The Fed's initiative undergirds government efforts to combat fallout from the economic shutdown imposed to curb the spread of the COVID-19 pandemic.
The gains have lifted the S&P 500 out of its bear market, which would officially end with the index closing above 2,684.88.
The Dow Jones Industrial Average plunged 877 points, or 4 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite fell 3.7 percent and 3.08 percent, respectively.
Monday’s advance comes after President Trump on Sunday evening announced the extension of social distancing guidelines through at least April 30.
Investors are beating down the bear as optimism returns to equities.
Senate Intelligence Committee Chairman Richard Burr, R-N.C., sold as much as $1.7 million in stocks just before the market dropped in February amid fears about the coronavirus epidemic.
The Dow Jones Industrial Average tumbled 7.8% Monday, its steepest drop since the financial crisis of 2008, as mounting fears over the coronavirus combined with a crash in oil prices to send a shudder through world markets.
The Dow Jones Industrial Average sank 7.8%, its steepest drop since the financial crisis of 2008, as a free-fall in oil prices and worsening fears of fallout from the spreading coronavirus outbreak seize markets.
The huge gains clawed back some of the ground lost in a massive sell-off that gave stocks their worst week since the financial crisis of 2008.
The virus outbreak has been shutting down industrial centers, emptying shops and severely crimping travel all over the world. More companies are warning investors that their finances will take a hit because of disruptions to supply chains and sales