Most of Wall Street wilts amid worries on virus, economy
NEW YORK (AP) — Most of Wall Street wilted Thursday on worries that the economy’s recent improvements may be set to fade as coronavirus cases keep climbing.
The S&P 500 lost 0.6%, with three in four stocks within the index falling. The sharpest drops hit oil companies, airlines and other stocks whose fortunes are most closely tied to a reopening and strengthening economy. Treasury yields also sank in another sign of increased caution. Smaller stocks sank more than the rest of the market, which often happens when investors are downgrading their expectations for the economy.
Tech stocks were an outlier, helping the Nasdaq to rise.