Dow sinks over 350 pts in expectations of new relief

Monday, 19. October 2020 20:51

Wall Street extended losses deep into the session on Monday over concerns about the long-awaited stimulus deal that still hasn't been agreed in the United States Congress.

Earlier in the day, Fed's Vice Chairman Richard Clarida warned that additional fiscal and monetary policy measures would be needed to fully recover from the coronavirus pandemic.

The Dow Jones sank 1.15% or 330 points, while the Nasdaq 100 plunged 1.29% or 152 points at 2:57 pm ET. A minute later, the S&P 500 dropped 1.32%. Meanwhile, the euro gained 0.47% against the dollar to sell for $1.17715.

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