Dow sinks 500 pts on open as virus concerns mount

Monday, 21. September 2020 15:31

The Dow Jones Industrial Average opened the week's first trading session 485 points in the negative territory as the traders remained worried over the increase in daily COVID-19 infections in both the US and Europe. With the number of coronavirus infections in the US approaching 7 million and the country's COVID death toll a tad short from 200,000, the investors turned to safe-haven assets such as bonds.

Meanwhile, US President Donald Trump unveiled that he plans to reveal, by Saturday, his candidate to replace the late Ruth Bader Ginsburg on the Supreme Court, stressing he has the support of the Senate Republicans to do so.

The Dow Jones plunged 1.74% as the session started with the 3M Company down by 1.86% three minutes in. The Nasdaq 100 lost 1.44% at the opening bell, as Illumina plunged 7.50% at 9:33 am ET. The S&P 500 opened the session 1.46% in the red, as Universal Health Services dived 9.75% at 9:31 am ET. The euro declined by 0.60% versus the dollar, selling for $1.17680 at 9:34 am ET.

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