U.S. stocks ended sharply lower Monday as investors focused on House Speaker Nancy Pelosi's self-imposed Tuesday deadline to achieve a coronavirus relief package for American businesses and workers. Markets had started off the session with some optimism that Pelosi, D-Calif., would be able to make progress toward the framework toward an additional deal on aid but mounting concerns that a fiscal package won't be produced before the Nov. 3 presidential elections is beginning to cause increased jitters for a market that believes that more funding is necessary to support further gains in the virus-stricken market. The Dow Jones Industrial Average closed off 410 points, or 1.4%, the S&P 500 index (S&P:SPX) closed off 1.6% at 3,427, led by energy (PSE:XLE) , technology (PSE:XLK) and communication services (PSE:XLC) , while the Nasdaq Composite Index (AMERICAN:COMP) closed off 1.7% lower at 11,479. That marked the fifth straight decline for the technology-laden Nasdaq Composite.
Oct. 19, 2020, 4:05 p.m. EDT