Technology companies dragged U.S. stocks sharply lower Wednesday as Wall Street’s tumultuous month continues to churn.
The latest losses erased the S&P 500’s gains from a day earlier and deepened the benchmark index’s September slide to 7.5% after a five-month rally.
Worries about a potential second wave of COVID-19 cases, doubt that lawmakers in Washington will reach a deal on another economic stimulus bill and uncertainty about the election have contributed to stocks’ losses this month.
The S&P 500 fell 78.65 points, or 2.4%, to 3,236.92.
The Dow Jones Industrial Average lost 525.05 points, or 1.9%, to 26,763.13.
The Nasdaq composite slid 330.65 points, or 3%, to 10,632.99.
The Russell 2000 index of small company stocks gave up 45.50 points, or 3%, to 1,451.46.
For the week:
The S&P 500 is down 82.55 points, or 2.5%.
The Dow is down 894.29 points, or 3.2%.
The Nasdaq is down 160.30 points, or 1.5%.
The Russell 2000 is down 85.32 points, or 5.6%.
For the year:
The S&P 500 is up 6.14 points, or 0.2%.
The Dow is down 1,775.31 points, or 6.2%.
The Nasdaq is up 1,660.38 points, or 18.5%.
The Russell 2000 is down 217.01 points, or 13%.