Wall Street Has Worst Week in Months

Dow falls another 157
By Newser Editors,  Newser Staff
Posted Oct 30, 2020 3:11 PM CDT
Wall Street Has Worst Month Since March
In this photo provided by the New York Stock Exchange, specialist Gregg Maloney, center, works at his post on the trading floor Wednesday Oct. 28, 2020.   (Courtney Crow/New York Stock Exchange via AP)

(Newser) – A lousy week on Wall Street ended in downbeat fashion on Friday. The Dow fell 157 points, or 0.5%, to 26,501; the S&P 500 fell 40 points, or 1.2%, to 3,269; and the Nasdaq fell 274 points, or 2.4%, to 10,911. All in all, it was the worst week—and month—for the market since March, reports the Wall Street Journal. The Dow shed about 6% for the week, and all three major indexes fell more than 2% in October. Rising coronavirus numbers, the lack of a COVID stimulus package in Congress, and uncertainty about how the 2020 election will play out all contributed to the jitters, notes CNBC.

"There’s unprecedented uncertainty around who will be elected and when we will know," Adam Grealish of Betterment tells the Journal. "We’re using our election systems in ways we’ve never before." Unspectacular earnings reports from the giants of the tech sector this week didn't help investors' mood, though Google parent Alphabet bucked the trend with quarterly results that beat expectations. (Read more stock market stories.)

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