The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also anxious about the possiblity of a contested U.S. presidential election next week. Shares of hotels, airlines and other companies sensitive to Covid-19-related turmoil fell. The energy index fell as oil prices tumbled on fears of a deeper drop in fuel demand.
Although October 28 is statistically the best trading day of the year, the main indexes dropped as new cases and hospitalizations set records in the Midwest, and Europe eyed new lockdowns.
"Uncertainty about COVID-19-related mobility restrictions and USA politics mean we should expect volatility to remain elevated for the balance of the year", chief investment officer at UBS Global Wealth Management Mark Haefele said in a note.
Wall Street's fear gauge spiked to its highest level in almost two months as investors feared a contentious election among other outcomes in the final six-day stretch to the White House race. Concerns that a victor might not be declared the night of November 3 also spurred the wide sell-off.
Investors are anxious about various potential outcomes: that the election may be contested; a "blue wave" gives Biden a victory and his Democrats control of Congress; or that Trump gets re-elected, said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.
Australia's S&P/ASX 200 declined 1.7% to 5,952.40.Shares also fell in Taiwan and Southeast Asia.The future for the S&P 500 rebounded, gaining 0.9% to 3,293.80 while the future contract for the Dow industrials added 1% to 26,668.00.In the US, cases are increasing in just about every state and the number of deaths and hospitalizations due to COVID-19 are on the rise.
All the 11 primary S&P 500 sectors sank, with technology and energy down 4.33 percent and 4.22 percent, respectively, leading the losses. The Nasdaq composite slumped 3.7% to 11,004.87. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have continued their talks, but investors see little chance of a deal happening before Election Day next week.Economists say the economy likely needs such aid after the expiration of the last round of supplemental unemployment benefits and other stimulus approved by Washington earlier this year.In currency dealings, the dollar strengthened to 104.46 Japanese yen from 104.34 yen. The selling was widespread, and 96% of stocks in the S&P 500 fell.Crude oil slipped further, with USA benchmark crude giving up 5 cents to $37.35 per barrel in electronic trading on the New York Mercantile Exchange. With Microsoft and Amazon.com, they weighed the most on the S&P 500.
Of the 206 S&P 500 companies that have reported third-quarter earnings so far, about 83% have topped expectations, according to Refinitiv data. But earnings on average are expected to fall 14.8% from a year earlier.
Declining issues outnumbered advancing ones on the NYSE by a 10.08-to-1 ratio; on Nasdaq, a 6.28-to-1 ratio favored decliners.
The S&P 500 posted one new 52-week highs and nine new lows; the Nasdaq Composite recorded 15 new highs and 110 new lows.
USPS told Fox News on Thursday that it is not aware of a "federal investigation" into allegedly lost ballots in Butler County. Supreme Court signaled this week that any ballots counted after Election Day could lead to "charges of a rigged election".
It has promised to shed more than US$10 billion (S$13.7 billion) this year in project spending and cut operating expenses 15%. The company lost almost $1.7bn in the first six months of the year and is expected to post another quarterly loss on Friday.
Elle est aussi membre de la Commission culture et patrimoine olympique du Comité international olympique (CIO). Ancienne volleyeuse, la Marocaine est la première femme à diriger une Fédération de sport collectif au Maroc.
We bet she would make for a resplendent bride on her D-day and these pictures from her pre-wedding ceremonies are proof of it. For the mehendi , Kajal looked gorgeous in a mint coloured floral printed ethnic outfit from the studios of Anita Dongre.
Audible announced its plans for the expanded podcast selection on Tuesday, but the new section itself didn't launch until today. Apparently, original shows have already strengthened the place of already established players in the video streaming platform.
There have been nine further Covid-19-linked deaths in Northern Ireland as hospitals reach 103% occupancy, new figures have shown. The WHD reports Johnson County has 62 cases recovered and has experienced 2 deaths resulting from the coronavirus.
The White Sox at least had it fixed when they tweeted out the La Russa announcement, this time with the correct signature. The 76-year-old has not managed a major-league team since retiring after winning the 2011 World Series with the St.
Osiris-Rex is set to come home in September 2023, hopefully with the largest sample returned from space since the Apollo era. Carbon-rich, solar-powered Benu is believed to have been placed under construction to secure the solar system.
However, the emails can contain malicious Google Docs, typically in the form of a PDF file, that contains a link to malware. The use of multiple links, as well as PDF files, can help trick email filters created to spot simpler phishing tactics.
Scarlett Johansson, Colin Jost marry in private ceremony
Neither Johansson or Jost, who appeared on Adele's episode of Saturday Night Live last weekend, have commented on the news. Johansson later married French journalist Romain Dauriac in 2014, following the birth of their daughter, Rose.
Jobless claims fall to 751,000, lowest level since March
That comes as the number of Americans seeking benefits fell slightly last week to 751,000, the lowest since March. But their decline has slowed over the past few months as the pandemic continues - and starts to worsen again.
Callaway Golf, Topgolf announce massive merger
Callaway Golf Co. has agreed to buy the remaining stake in driving-range chain Topgolf Entertainment Group in an all-stock deal. Callaway's stock had a particularly "tough day" after the deal was announced, Brewer said on CNBC's "Closing Bell".
Health department reports 16 new Covid cases Thursday
The largest increase was identified in Moscow, where 4,312 new positive tests were registered (down from 5,224 on Monday). Most of the patients hospitalized are ages 65 or older, and most of the deaths have occurred in patients 65 or older.
Golfing great Nicklaus endorses Trump for re-election
Tiger Woods , second behind Nicklaus on golf's all-time majors list, joined Nicklaus and Trump for one round in 2019. Nicklaus, who has always been friends and played golf with the president, said he's learned to look past some of Mr.