U.S. stocks drop as traders weigh coronavirus impact

Wed, 27 Jan 2021

U.S. stocks drop as traders weigh coronavirus impact

Xinhua
01 Dec 2020, 08:44 GMT+10

NEW YORK, Nov. 30 (Xinhua) -- U.S. stocks slipped on Monday as the nation grapples with soaring COVID-19 infections.

The Dow Jones Industrial Average fell 271.73 points, or 0.91 percent, to end at 29,638.64. The S&P 500 slid 16.72 points, or 0.46 percent, to 3,621.63. The Nasdaq Composite Index decreased 7.11 points, or 0.06 percent, to 12,198.74.

Nine of the 11 primary S&P 500 sectors pulled back, with energy closing down 5.37 percent, leading the laggards. Technology rose 0.66 percent, the best-performing group.

U.S.-listed Chinese companies traded lower, with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Spiraling COVID-19 cases in the United States continued to present a headwind.

The country has reported more than 13.5 million cases in total with the death toll from the disease exceeding 267,000 as of Monday afternoon, according to a tally by Johns Hopkins University.

Despite Monday's losses, U.S. equities posted strong gains for the month.

For November, the Dow soared 11.8 percent, its best monthly performance since 1987. The S&P 500 and the Nasdaq added 10.8 percent and 11.8 percent, respectively, their biggest monthly advances since April.

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