Talk about a seesaw day. At one point, the Dow was up more than 370 points on Friday, notes CNBC. But when the market closed, the index was well into the red. The reason? A spate of negative headlines in regard to the coronavirus, including Apple's decision to re-close several stores across the US. On the day, the Dow fell 207 points to 25,873, the S&P 500 fell 17 points to 3,097, and the tech-heavy Nasdaq kept a six-day winning streak alive, barely, by gaining 3 points to close at 9,946.
“COVID cases have been spiking higher in certain US states, (and) the issue is becoming too much for the market to ignore,” said Vital Knowledge founder Adam Crisafulli in a note to investors. Investors fear new lockdowns, notes the Wall Street Journal, and Apple's move only worsened those concerns. Also not helping: On Friday, Florida recorded an additional 3,822 cases, a single-day record, per the Miami Herald. (Read more stock market stories.)