news 3 weeks ago

Wall Street Has Worst Week in Months

Newser — Newser Editors

A lousy week on Wall Street ended in downbeat fashion on Friday. The Dow fell 157 points, or 0.5%, to 26,501; the S&P 500 fell 40 points, or 1.2%, to 3,269; and the Nasdaq fell 274 points, or 2.4%, to 10,911.

All in all, it was the worst week—and month—for the market since March, reports the Wall Street Journal. The Dow shed about 6% for the week, and all three major indexes fell more than 2% in October.

Rising coronavirus numbers, the lack of a COVID stimulus package in Congress, and uncertainty about how the 2020 election will play out all contributed to the jitters, notes CNBC.

"There’s unprecedented uncertainty around who will be elected and when we will know," Adam Grealish of Betterment tells the Journal. "We’re using our election systems in ways we’ve never before." Unspectacular earnings reports from the giants of the tech sector this week didn't help investors' mood, though Google parent Alphabet bucked the trend with quarterly results that beat expectations.

More From Newser

This article originally appeared on Newser: Wall Street Has Worst Week in Months