Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City.Johannes Eisele | AFP |
Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City.
Johannes Eisele | AFP | Getty Images
Dow Jones Industrial Average falls 361 points
The Dow dropped 361.19 points, or 1.39%, to 25,706.09. The S&P 500 slid 0.56% to 3,152.05. The Nasdaq Composite rose 0.53% to close at 10,547.75.
Record hospitalizations in Florida
Stocks hit their lows of the day after Florida reported a record in coronavirus-related hospitalizations. The state also reported a record spike in Covid deaths. “There’s less reason for optimism now than there was in April,” said one economist. “We’re still looking at a vaccine some time early next year, but it’s become clear that it’ll be very difficult to open without causing a renewed surge” in coronavirus cases.
Walgreens tumbles, tech gains
Walgreens led the Dow lower, dropping 7.76% on the back of disappointing earnings. Tech shares such as Microsoft and Amazon rose 0.70% and 3.29%, respectively, each to offset some of those losses.
What happens next?
The U.S. producers purchasing index is set for release Friday.
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