Dow drops more than 500, S&P 500 posts first 4-day losing streak since February

(CNBC) — Stocks fell on Monday as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus, rattled traders.

The Dow Jones Industrial Average dropped 509.72 points, or 1.8%, to close at 27,147.70. The S&P 500 lost 1.2% to 3,281.06. The Nasdaq Composite closed just 0.1% lower at 10,778.80 after a late-day surge in tech stocks. At one point, the Dow had dropped more than 900 points. The S&P 500 fell as much as 2.7%.

Monday’s decline marked the first time since February that the S&P 500 posted four straight daily losses. The Dow, meanwhile, had its worst day since Sept. 8, when it dropped 2.3%.

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