U.S. stocks fell broadly and sharply on Wednesday as second wave increases in coronavirus infections in the U.S. and Europe ushered in more concerns over the potential impact to the global economy. Over the past week, the average daily new cases in the U.S. climbed to a record 71,832 as hospitalization rates have risen about 10% in a majority of states. Elsewhere, France and Germany has issued new nationwide lockdown measures to curb infection rates, becoming bellwethers for more potential lockdowns to come in the region.
More U.S. presidential election uncertainty has also crept into market sentiment as recent national polls show former vice president Joe Biden leading President Donald Trump. Investors fear that a Biden presidency, while it may bring a larger overall fiscal stimulus package, could led to a longer delay in coronavirus stimulus efforts.
Here's how the market settled for the mid-week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
For Major Stock News, stocks across the broad sank amid Wednesday's major sell-off, with big tech
For Sector Performance, all industries of the S&P 500 sunk at least 2% throughout Wednesday's session. Investors had pulled money out of stocks broadly, including away from major tech names that had been considered the new safe haven as new coronavirus fears washed over sentiment. Communication Services
For Commodities and Currency, the U.S. Dollar
For Thursday, market participants will turn their attention to fresh data from the Department of Labor for weekly unemployment claims. Quarterly earnings from companies like Apple