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
Markets Slump Despite Good News on Vaccine
The American flag hangs outside the New York Stock Exchange.   (AP Photo/Frank Franklin II, File)

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 (More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.