Worries About Virus Surge Drag Markets Down Again

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 US. 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, the AP reports. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42, per CNBC. The S&P 500 fell 41.74 points to 3,567.79, and the Nasdaq dipped 0.8%, or 97.74 points, to 11,801.60 (More stock market stories.)