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Oct. 19, 2020, 4:05 p.m. EDT

Dow sinks over 400 points to book worst day in four weeks and Nasdaq logs 5th straight drop as fiscal talks fuel worries

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By Mark DeCambre

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 /zigman2/quotes/210599714/realtime SPX +1.49% closed off 1.6% at 3,427, led by energy /zigman2/quotes/206420077/composite XLE +3.10% , technology /zigman2/quotes/207444675/composite XLK +2.20% and communication services /zigman2/quotes/204079482/composite XLC +1.97% , while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +2.32% closed off 1.7% lower at 11,479. That marked the fifth straight decline for the technology-laden Nasdaq Composite.

+61.35 +1.49%
Volume: 1.91B
May 14, 2021 5:02p
US : U.S.: NYSE Arca
$ 53.49
+1.61 +3.10%
Volume: 28.59M
May 14, 2021 4:00p
US : U.S.: NYSE Arca
$ 135.98
+2.93 +2.20%
Volume: 8.41M
May 14, 2021 4:00p
US : U.S.: NYSE Arca
$ 77.09
+1.49 +1.97%
Volume: 3.26M
May 14, 2021 4:00p
US : Nasdaq
+304.99 +2.32%
Volume: 3.61M
May 14, 2021 5:16p

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