US Stocks Tumble On Friday Based On Election Uncertainty, Lockdowns In Europe
Umer Jamshaid Published October 31, 2020 | 02:20 AM
NEW YORK (UrduPoint 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.
Related Topics
Recent Stories
3 Gawadar attack victims funeral offered
Mbappe says he will leave PSG at end of season
Usmani felicitates Sardar Saleem on taking oath as Punjab Governor
DC for provision of facilities to people in Lasbela
Solar storm could bring auroras, power and telecoms disruptions
Court grants interim bail to PTI leaders
Ulema, Mashaykh call for political accountability, collaboration for Pakistan's ..
SHRC asks NADRA to issue CNICs to transgender as per law
Flash floods kill 50 in one day in north Afghanistan
CDA chief expresses commitment to promoting modern-day technologies
By wide margin, UN General Assembly votes to back Palestinian bid for membership ..
Musadik slams PTI's political approach as provocative
More Stories From Business
-
Mongolian envoy for boosting bilateral economic ties
11 hours ago -
SBP provides practicable foundation for elimination of Riba: chief manager
12 hours ago -
Rupee gains 08 paisa against US dollar
12 hours ago -
Pakistan, Korea sign Aide-Mémoire for Enhanced Development Cooperation 2024-2026
12 hours ago -
European stock markets hit record highs on rate cut hopes
12 hours ago -
Steps being taken for uplift of industries, socioeconomic conditions: SACM
12 hours ago
-
Meezan Bank, Roche Pakistan join forces to combat breast cancer
13 hours ago -
Salim calls for utilizing Turkish expertise in PIA's privatization
14 hours ago -
PSX stays bullish, gains 427 more points
14 hours ago -
Pakistan committed to promote green investment: Aurangzeb
14 hours ago -
Short-term inflation eases by 1.39 percent
16 hours ago -
Gold rates increase by Rs.4,600 to Rs 243,800 per tola
16 hours ago