US stocks tumble at the opening bell as investors continue to worry about a potential second wave of coronavirus infections
US stocks tumbled at the opening bell in New York, but they managed to pare some of their losses halfway through the morning.The Dow declined 360 points, or 1.4%, after falling as much as 762 points at its lowest.The S&P 500 dropped 1.1%, and Nasdaq Composite slipped 0.6%.Stocks have been climbing over the past weeks, driven up by hopes for the reopening of the economy.
But markets have begun to catch up to reality, and despite a small recovery Friday, US indexes are on pace for heavy declines at the start of this week. As much of the United States begins to reopen following coronavirus lockdowns, scientists and health experts are warning about the potential for a second wave of the virus, which could have devastating effects for the economy. Several US states that reopened weeks ago are now reporting a rising number of infections and hospitalizations.
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