Stocks give up early gains and end lower on Wall Street
An afternoon slump left stock indexes broadly lower on Wall Street, erasing early gains, as traders worried anew about the rapid spread of the coronavirus in the U.S. The S&P 500 lost 1.2%.
It was up 0.3% in morning trading and small-company stocks were headed for another record high after Pfizer and BioNTech reported updated data suggesting their potential COVID-19 vaccine may be 95% effective.
Major indexes turned lower in afternoon trading, and the losses accelerated after New York City said it would close its public schools to in-person learning again as infections continue to rise there.