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29 October 2020

U.S. stocks tumbled Wednesday, with the Dow closing at lows last seen in late July, as coronavirus cases surged globally and investors worried about the possibility of a contested U.S. presidential election next week.

The spiraling pandemic and Washington's failure to reach a deal on new fiscal stimulus before the November election drove all three stock indexes to close more than 3 percent lower in heavy trade.

The sell-off accelerated during the session's final minutes, with both the Dow and benchmark S&P 500 posting their biggest single-day declines since June 11.

The Dow Jones Industria