Number of the Day Shows Faltering U.S. Stock Market
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That’s how many months it has been since the Dow Jones Industrial Average had a worse month than it did in October.
The benchmark gauge of U.S. stocks closed Friday at 26,501.60, ending the trading month 4.6% below where it started and at its lowest point since July. That’s the biggest monthly decline since March, when it plunged as much as 31% (14% for the month) at the start of the COVID-19 pandemic.
Other major indicators reflect similar investor pessimism, with the S&P 500 Index and the Nasdaq Composite both threatening to pass their Sept. 23 lows. Not only are investors anxious about the outcome of the upcoming presidential election, but the country’s daily count of new COVID-19 cases has been on a major upswing—reaching an all-time record this week—and hopes for a new federal stimulus package were dashed by the Senate’s adjournment until Nov. 9.
Yahoo Finance. "Dow Jones Industrial Average." Accessed Oct. 30, 2020.