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10/26/2020, 9:01 PM (Source: TeleTrader)
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Dow down by over 600 pts at close on virus concerns

Major stock markets in the United States closed lower on Monday amid new spikes in infections from COVID-19 and their possible severe impacts on the nation's economy. Earlier this day, the country recorded 60,789 new cases of coronavirus and 340 additional deaths. Meanwhile, White House economic adviser Larry Kudlow revealed the negotiations over the new stimulus aimed at combating the crisis caused by the pandemic had slowed down but added they were still ongoing. On the other hand, House Speaker Nancy Pelosi criticized President Donald Trump's administration for refusing to approve the Democrats' virus testing strategy.

The Dow Jones Industrial Average plunged 2.23% or 637 points at the close as American Express Co. decreased by 4.04%. The Nasdaq 100 declined by 1.47% with Workday Inc. sinking 6.16%. The S&P 500 dropped by 1.77% as the Royal Caribbean Group fell by 9.65%.

The euro lost 0.45% to the dollar to sell for $1.18068 at 3:56 pm ET.

Breaking the News / JR