CRAZY in the USA: the Wall Street stock market falls sharply before the elections, but also because of Covid-19 – News from the sources

Shares on Wall Street fell sharply on Wednesday, with the Dow Jones index hitting its lowest level since late July, amid the growing number of Covid-19 cases globally and investor concerns about the possibility of US presidential election disputed. , next week, Reuters reports.

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The worsening of the pandemic and Washington’s inability to reach an agreement to grant new stimulus measures ahead of the November 3 election saw all three indicators close Wednesday’s session down by more than 3% on Wednesday, amid high exchanges, informs News.ro.

The Dow Jones Industrial Average fell 3.43%, the S&P 500 by 3.53% and the Nasdaq Composite by 3.73%.

The decline accelerated in the last few minutes of trading and the Dow Jones and S&P 500 index recorded the largest daily decline since July 11.

A record number of hospitalized patients with Covid-19 have been registered in 12 US states, while Germany and France have announced measures to block most public activities for a month due to the worsening of the pandemic in Europe.

“Then we just realized. Grow up, it’s bad. The idea that it will disappear is a false assumption,” said Eric Kuby, chief investment officer at North Star Investment Management in Chicago.

Shares of hotels, airlines and other leisure companies, vulnerable to the impact of Covid-19, dropped dramatically and the airline’s S&P 1500 component fell by 4.3%.

The energy companies index fell 4.2%, while oil prices fell on fears of a sharper drop in fuel demand.

Just six days before the US presidential election, Wall Street’s fear index rose to its highest level since June 15. The sale of shares was also driven by concern that the presidential election winner could not be declared on the night of November 3.

Democrat Joe Biden is 10 percent ahead of President Donald Trump in national polls, according to Reuters / Ipsos, but competition is tight in the key states that will decide the winner.