Wall Street suffered steep losses Wednesday – in its biggest one-day drop since June....
as rising coronavirus cases at home and abroad unnerved investors.
They fear the global economic recovery could be in jeopardy with new country-wide restrictions announced in Germany and France... and a dozen U.S. states hitting record hospitalizations.
The Dow tumbled Wednesday, its fourth straight losing session - down 943 points, a loss of 3.4 percent. The S&P 500 fell 119 points. The Nasdaq was hit with a 426-point decline, a drop of 3.7 percent.
For David Barse, Founder and CEO of XOUT - it's hard to tell where the markets go next.
"You really can't predict the future. It's so hard to figure out what's going to happen tomorrow, the next day, the next week, the next month or next year, you just know that this uncertainty is spooking people and it's causing them to flee from the market. And that's what's causing it to go down. But if it's coronavirus, if it's the election, those are the obvious two that everybody's focused on."
Airlines and hotels are considered the most vulnerable to COVID-19 restrictions. That sector was slammed pretty hard. JetBlue was the biggest loser among U.S. carriers - the stock slumped 6-1/2 percent on fear a recent uptick in air travel will disappear.
Of the hotels: MGM Resorts and Hilton lead that group lower.
And the online travel companies weren't spared. Booking Holdings, parent of Priceline, KAYAK, and OpenTable, tumbled 5-1/2 percent.
All of Wednesday's selling pushed the Dow to its lowest close since July.