Stocks New York: Dow drops below 28,000 points | 10/26/20

NEW YORK (awp international) – Concerns about rising new infections and dwindling hopes for further corona economic aid before the US presidential elections have put a heavy burden on the Dow Jones Industrial at the start of the week. In early trading, the world‘s best-known stock market barometer fell below the 28,000 mark and thus to its lowest level in around three weeks.

Most recently, the Dow stood at 27,952.29 points, which meant a minus of 1.35 percent. The market-wide S&P 500 fell by 0.89 percent to 3434.47 points. The technology-heavy selection index Nasdaq 100, however, remained stable at minus 0.05 percent at 11,686,317 points.

At the end of last week, there was still the slightest hope that another corona aid package to support the economy could be passed before the presidential elections in early November. This confidence is now almost imperceptible after House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin broke off their talks. They accused each other of “having changed the negotiating rules” afterwards.

The Chinese government announced sanctions against US companies after the sale of new US weapons to Taiwan, which also weighed on the mood on the stock market.

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