Wall Street closed lower on concerns about the Georgia election and a spike in the virus
Shares on Wall Street closed sharply lower today, Monday, retreating from all-time highs on the first day of New Year's trading as investors' appetite for risk waned as they awaited the outcome of the Georgia run-off election that would determine control of the US Senate, and a continuing jump in infections Coronavirus.
The Dow Jones Industrial Average, which touched a record high earlier in the trading session with the Standard & Poor's 500 Index, was also hit by a 4 percent drop in Boeing shares after a brokerage house downgraded the US aircraft maker’s shares, citing concerns about cash flows. .
The Dow ended the trading session down 382.59 points, or 1.25 percent, to 30,223.89 points, while the benchmark Standard & Poor's 500 Index fell 55.42 points, or 1.48 percent, to close at 3,700.65 points.
The Nasdaq Composite Index closed down 191.23 points, or 1.48 percent, to 12,697.06 points, according to Reuters.
The Standard & Poor's 500 and the Dow Jones indexes recorded the largest one-day drop in terms of percentage since October 28, while the Nasdaq index recorded the largest decline since the ninth of December.
