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Julie Young
Julie Young
Articles (1523) 

US Stocks Sell Off for Lower Close Monday

Dow Jones down -2.29%

The Dow Jones Industrial Average closed at 27,685.38 on Monday with a loss of 650.19 points or -2.29%. The S&P 500 closed at 3,400.97 for a loss of 64.42 points or -1.86%. The Nasdaq Composite closed at 11,358.94 for a loss of 189.34 points of -1.64%. The VIX Volatility Index was higher at 32.46 for a gain of 4.91 points or 17.82%.

Monday's Market Movers

U.S. indexes closed lower Monday with a surge in Coronavirus cases. Investors were concerned over a second wave, no vaccine available yet and no major stimulus developments.

This week will be the busiest week for third quarter earnings reports. Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) will lead the headlines. Microsoft (NASDAQ:MSFT), Twitter (NYSE:TWTR), Amazon (NASDAQ:AMZN), Exxon (NYSE:XOM) and Chevron (NYSE:CVX) will also report.

Economic reports affecting market trading Monday included the following:

  • The Chicago Fed National Activity Index decreased to 0.27 in September from 1.11.
  • New home sales decreased -3.5% in September to a seasonally adjusted annual rate of 0.959 million.
  • The Dallas Fed Manufacturing Index increased to 19.8 in October from 13.6.
  • The Treasury held auctions for three-month bills at a rate of 0.100% and six-month bills at a rate of 0.110%.

Across the board:

  • All major sectors were lower
  • Energy led losses as hurricane weather heads toward the Gulf of Mexico
  • The Nasdaq Biotech Index was down -1.01%
  • Quidel Corporation (NASDAQ:QDEL) gained 6.13%
  • Dunkin Brands Group (DNKN) gained 16.12% after talks of going private
  • Tilray (TLRY) was down -12.93%

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,605.21 for a loss of 35.29 points or -2.15%. The S&P 600 closed at 913.96 for a loss of 19.76 points or -2.12%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,258.47 for a loss of 238.00 points or -2.07%. The Dow Jones U.S. Small-Cap Value Index closed at 7,339.60 for a loss of 174.95 points or -2.33%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,973.88 for a loss of -41.77 points or -2.07%; the S&P 100 at 1,568.65 for a loss of -28.09 points or -1.76%; the Nasdaq 100 at 11,504.52 for a loss of -188.05 points or -1.61%; the Russell 3000 at 2,002.74 for a loss of -38.15 points or -1.87%; the Russell 1000 at 1,900.42 for a loss of -35.85 points or -1.85%; the Wilshire 5000 at 34,954.48 for a loss of -655.09 points or -1.84%; and the Dow Jones US Select Dividend Index at 615.56 for a loss of -12.06 points or -1.92%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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