Stock market today October 27, 2020
October 27, 2020
Stock market today
A third consecutive day of losses for Dow Jones today. Major stock indices declined, Nasdaq pushed higher 72 points. At the close of the stock market today the numbers were as follows:
S&P 500: 3,390.68,-10.29(-0.30%)
Dow 30: 27,463.19,-222.19(-0.80%)
Russell 2000: 1,590.72,-14.49(-0.90%)
Stock market data: Yahoo Finance
Stock market news
“Stocks were mixed Tuesday after a selloff on Wall Street pushed the Dow and S&P 500 to their biggest one-day drops in more than a month.
The Dow fell as components 3M and Caterpillar fell after reporting earnings results. A day earlier, the index dropped 650 points, or 2.3%, for its worst single-session decline since the beginning of September. The S&P 500 fell 1.9% for its worst drop since September 23, and the Nasdaq fell 1.6% for its worst decline in a week.
Airline, cruise line and resort stocks also extended losses after enduring a steep drop a day earlier, as traders fled from names most exposed to disruptions that could occur if a jump in virus cases further stems discretionary travel. Advanced Micro Devices (AMD) shares sank after the company announced it agreed to purchase peer chipmaker Xilinx (XLNX) in a $35 billion all-stock deal, confirming rumors from earlier this month. Shares of Xilinx jumped more than 10%.
Concerns over elevated new case counts in the U.S. and abroad contributed heavily to traders’ jitters. Domestically, cases hit a record high of more than 80,000 on Friday and held above that threshold again on Saturday. Dr. Anthony Fauci, the nation’s top infectious disease expert, said during Yahoo Finance’s All Markets Summit on Monday that the U.S. is still in the “original first wave” of the pandemic, given that cases never stabilized to a more manageable level to begin with. Overseas, the Czech Republic on Monday joined France, Spain and Italy in imposing an evening curfew to try and curb the spread of the coronavirus, with cases again surging across Europe.
The virus resurgence compounded with ongoing uncertainty over the U.S. election results next week and discussions over another significant coronavirus relief package out of Washington.”
Source: Yahoo Finance