S&P and Nasdaq suffer their biggest one-day drops since mid-May while the Dow falls to a nine-month low
Stephen Culp
All three major US stock indices ended the session sharply lower, with the S&P and the Nasdaq suffering their biggest one-day percentage drop since mid-May.The risk-off sentiment also sent US 10-year Treasury yields sliding, pulling rate sensitive banks stock prices with them. The S&P 500 Banks index dropped 3.3%.
“Global availability of the vaccine has been an issue from day one.” Nolte said. “That’s been out there for a long time. This is the latest iteration of that. We still have a long way to go.” The Dow Jones Industrial Average fell 725.81 points, or 2.09%, to 33,962.04, the S&P 500 lost 68.67 points, or 1.59%, to 4,258.49 and the Nasdaq Composite dropped 152.25 points, or 1.06%, to 14,274.98.
Among high-profile names, Netflix, Twitter , Johnson & Johnson, United Airlines and Intel, along with a host of industrials from Honeywell to Harley-Davidson are due to post results this week.
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