NEW YORK (Pakistan Point News / Sputnik - 31st October, 2020) Stocks tumbled on Friday, with the Dow Jones Industrial Average suffering its biggest weekly and monthly loss since March, amid uncertainty over the outcome of the US election and the repeat restrictive measures and lockdowns in Europe.
The Dow, the broadest stock indicator on the New York Stock Exchange, settled at 25,504, down 0.5 percent on the day. For the week, it fell 6.5 percent and for the month, it lost 4.6 percent.
The S&P, a barometer for the top 500 US stocks on the New York Stock Exchange, closed at 3,272, down 1.2 percent on the day. For the week, the S&P fell 5.6 percent and for the month, it lost 2.8 percent, the most since March.
The Nasdaq Composite Index, which lists US tech stock giants such as Facebook, Apple, Amazon, Netflix and Google, finished the day at 10,912. It slid 2.5 percent on the day. For the week, the Nasdaq fell 5.5 percent, while for the month, it lost 2.3 percent.
Political uncertainty has gripped the United States as well ahead of the November 3 election, where President Donald Trump faces his Democratic challenger Joe Biden amid tightening polls in key battleground states.
In addition, fresh curbs placed on business and people in France and Germany this week in response to the spread of the novel coronavirus have led to fears of wider lockdowns in Europe and elsewhere.
