Shares tumble on worries about Washington gridlock and coronavirus

People walk by the New York Stock Exchange (NYSE) near One World Trade Center, the Freedom Tower, in lower Manhattan during commemoration ceremonies for the September 11, 2001 terror attacks on September 11, 2020 in New York City. Hundreds of people have gathered for the 19th anniversary of the event at Ground Zero to remember the nearly 3,000 who were killed on that day. But this year, due to COVID-19 pandemic restrictions, only family members are allowed to gather at the 9/11 Memorial plaza. There will also not be an in-person reading of the victims' names at the memorial and instead there will be a pre-recording of names by family members broadcast throughout the plaza and live-streamed online.  (Photo by Spencer Platt/Getty Images)

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Rising Covid-19 infections around the globe because the colder seasons of the yr are starting are additionally weighing in the marketplace.

The Dow (INDU) opened down 500 factors, or 1.7%. The broader S&P 500 (SPX) kicked off 1.5% decrease, and the Nasdaq Composite (COMP) fell 1.6%.
All three indexes have posted three-straight weeks of losses. This week might be quantity 4.

European inventory markets do not look higher Monday, promoting off as virus numbers are on the rise.

Whereas shares are getting hammered, the US greenback, measured by the ICE US Greenback Index is up 0.5%. US Treasury bonds are additionally in excessive demand Monday, and the 10-year bond yield dipped to 0.66%. Bond costs and yields transfer reverse to 1 one other.

The market jitters started with a pointy selloff, primarily in tech shares, a couple of weeks again. Since then, supportive financial stimulus from the Federal Reserve, gridlock in Washington over a subsequent stimulus invoice, the upcoming election and the dearth of viable funding alternate options after the large inventory market rally of the summer season have been pulling buyers into completely different instructions.

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