10/28/2020

Dow Plunges More Than 900 Points as COVID-19 Cases Spike

Financial markets tumbled today as virus cases surged in the U.S.

Stocks took a tumble Wednesday amid uncertainty over rising virus cases and with less than a week to go before the U.S. presidential vote.

The Dow Jones Industrial Average plummeted by 943 points, or approximately 3.4 percent, by the time markets closed Wednesday. The S&P 500 slipped 3.5% and the tech-heavy Nasdaq slid 3.7 percent. The sell-off, which began earlier this week, comes amid a new surge in COVID-19 cases in the U.S. Last Friday, some seven months into the crisis, the nation hit a new all-time high of 83,757 new cases in a single day.

Randy Frederick, the vice president of trading and derivatives at Charles Schwab, told ABC News the primary concern among investors has been "this pretty sizable uptick in the virus, more than anything else."

Please select this link to read the complete article from ABC News.