Stock

Stocks Pare Earlier Losses as Nasdaq Closes Nearly Flat

Published

3 years ago

22 Sep, 2020

People look out toward the financial district of Canary Wharf from a view point in Greenwich Park on Sept. 20, 2020, in London, England.

U.S. stocks dropped on Monday, as investors fretted about rising coronavirus infections and the impact of the death of Supreme Court Justice Ruth Bader Ginsburg.

The Dow Jones Industrial Average slid 510 or 1.8% Monday, paring earlier losses which had the index down by more than 900 points. The S&P 500 fell by 1.2%. Small-caps fared the worst with the Russell 2000 down 3.4%.

Tech stocks held up relatively well, however. The Nasdaq Composite erased earlier losses, closing down just 0.1%. Big tech names, which sold off aggressively in recent days, reversed course in Monday’s trading. Apple (ticker: AAPL) shook off earlier losses to end the day up 3% while Amazon (AMZN) shares gained 0.2%.

With Japanese markets shut for a holiday, the Hang Seng dropped 2.1% and the Kospi Composite fell 1% in Seoul.

The FTSE 100 in London fell 3.4%, and the German DAX dropped 4.4% in afternoon trading.