It has been a messy week for the stock market. With only four days to go until Election Day, rising Covid-19 infections and uncertainty about further government stimulus to help the economy, there’s plenty for investors to worry about.
Stocks had their worst week since March, when the market tumbled under the first wave of coronavirus infections and lockdowns — and one of their worst weeks of the year as a whole.All three major indexes also recorded the second straight month of losses.The Dow (INDU) fell 6.5% on the week while the S&P 500 (SPX), the broadest measure of Wall Street, dropped 5.6%. Though we’re not back in lockdown mode yet, some European countries have tightened restrictions again to combat a second wave.The Dow closed down 0.6%, or 158 points, on Friday. It was also its worst month of the year since March.The S&P ended the day 1.2% lower.But the tech-heavy Nasdaq Composite (COMP) fared the worst on Friday, as tech stocks got clobbered. Shares of Twitter, for example, closed down more than 20%, following the company’s earnings Thursday. Apple (AAPL) and Amazon (AMZN) shares also tumbled after their earnings reports.The Nasdaq finished down 2.5% on Friday, for a drop of 5.5% on the week.