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Worries About Virus Surge Drag Markets Down Again

Dow was down 344 points despite good news on vaccine
By Newser Editors and Wire Services
Posted Nov 18, 2020 3:42 PM CST

(Newser) – An afternoon slump left stock indexes broadly lower on Wall Street, erasing early gains, as traders worried anew about the rapid spread of the coronavirus in the US. The S&P 500 lost 1.2%. It was up 0.3% in morning trading and small-company stocks were headed for another record high after Pfizer and BioNTech reported updated data suggesting their potential COVID-19 vaccine may be 95% effective. Major indexes turned lower in afternoon trading, and the losses accelerated after New York City said it would close its public schools to in-person learning again as infections continue to rise there, the AP reports. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42, per CNBC. The S&P 500 fell 41.74 points to 3,567.79, and the Nasdaq dipped 0.8%, or 97.74 points, to 11,801.60 (Read more stock market stories.)

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