Dow, S&P Fall From Records as COVID Cases Leap

The Dow Jones Industrial Average and S&P 500 fell on Monday following a record-setting session as traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.

The 30-stock index faded 115.60 points, off its lows of the morning, to 30,102.66. Chevron dipped 2%, while Intel capsized 1.7%, the two worst performing on the Dow.

The S&P 500 deleted 4.38 points to 3,694.74.

The NASDAQ moved higher, though, 49.51 points to 12,513.75, and hit a fresh record high. Facebook, Apple and Netflix all rose more than 1% to lead the NASDAQ higher. Tesla also contributed to the NASDAQ’s gains, advancing 2.9%.

Dr. Deborah Birx warned on Sunday that the escalating coronavirus cases will be “the worst event that this country will face, not just from a public health side.”

On Thursday, more than 2,800 U.S. deaths from the disease were recorded, a new high, according to data compiled by Johns Hopkins University. More than 14 million Covid-19 cases have been confirmed in the U.S. along with over 282,000 coronavirus-related deaths. Hospitalizations have also reached record levels in the U.S.

Prices for the 10-Year Treasury revived, lowering yields to 0.93% from Friday’s 0.97%. Treasury prices and yields move in opposite directions.

Oil prices sank four cents to $46.22 U.S. a barrel.

Gold prices hiked $28.60 to $1,868.60.