Covid

US stocks fell on Wednesday, experiencing one the worst days in months amidst uncertainty over the upcoming election and a rise in the number of new coronavirus infections in the country.

The Dow dropped by 3.4 per cent by the time the market closed, its largest one-day decline since June. The S&P 500 closed 3.5 per cent lower, and the Nasdaq also dropped by 3.7 per cent.

The novel coronavirus has infected over 8.77 million people in the United States and killed nearly 227,000 people, according to data compiled by Johns Hopkins University.

The US economy has struggled during the pandemic, and experts say that any economic recovery will be stifled as coronavirus cases spike across the country once again.

US President Donald Trump, who is running for re-election, has taken credit for boosting the US economy prior to the pandemic and for stock prices remaining high throughout his time in office.

The stock market dip could put a damper on his campaign messaging in the week before election day.

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