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US stocks open lower as virus cases spread, aid talks stall

2 years 5 months 4 days ago Monday, October 26 2020 Oct 26, 2020 October 26, 2020 8:55 AM October 26, 2020 in News
Source: Associated Press
The New York Stock Exchange

NEW YORK (AP) — Stocks are opening broadly lower on Wall Street as investors pull back over concerns that economic shutdowns will accelerate with the increasing spread of coronavirus cases in the U.S. and Europe. The S&P 500 lost 0.9% in the early going Monday.

The index is coming off its first weekly loss in four weeks.

Travel-related companies like cruise lines, which stand to suffer outsize losses if shutdowns continue, took hefty losses.

Meanwhile in Washington, talks are still stalled on providing more badly needed economic aid for American people and businesses hurt by virus shutdowns.

Treasury yields fell. European markets and oil prices also fell.

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