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The blue chip index posts its second-consecutive monthly loss after a resurgence in coronavirus cases rattles investors.
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Joe Biden Will Win, Says Indicator that Has Called Every Election Since '84 NewsweekThe stock market's 'presidential predictor' is forecasting a Biden victory MarketWatchThe stock market has made its final prediction: Joe Biden will win the presidential election FortuneView Full Coverage on Google News
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October was worst month for the Dow since March as coronavirus was spreading CBS NewsStocks just wrapped up their worst week since March CNNStocks retreat with megacaps mostly disappointing lofty investor expectations Seeking AlphaDow Jones Today Slumps After Senate Kills Possibility of Stimulus Money Morning
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 If there were any doubts left about whether the market would be "risk-on" or "risk-off" going into the election, Friday's selloff pretty much iced it. The toggle has switched to the off position.The late-week meltdown ignited after earnings from four of the five FAANGs that were mostly positive, but perhaps lacking in the guidance department (see more below). Combine that with the resurgence of COVID-19, the Senate adjourning with no more progress on a stimulus package, and the culmination of a long and contentious election season, and it's no wonder investors seem ready for a break. Even before FAANG earnings officially put things on ice, many investors showed signs of risk aversion ahead of the election. That made itself pretty clear with selloffs on Monday and Wednesday. Major indices suffered their worst week since March, and now people are openly making comparisons between this pre-election skid and the one we saw heading into the 2016 election.As noted this morning, keep an eye on futures Sunday night into Monday, and especially on Tuesday night as returns come in. Election night 2016 was a wild one for the futures market, featuring a steep plunge when it initially looked like results might be contested, followed by a meteoric rally when it became clear there'd be a victor without much fuss or muss.A wild ride could play out this time if things look testy by late Tuesday night. Or, if it looks relatively smooth, stocks could get a lift. It's arguably not so
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Stock Market Rally Dives On Coronavirus Fears, Apple, Microsoft, Facebook, Amazon Earnings Investor's Business DailyDow closes more than 150 points lower as Wall Street posts its worst one-week sell-off since March CNBCNifty to remain under pressure as US benchmarks fail to recover & futures take further dip overnight ET NOWStocks retreat with megacaps mostly disappointing lofty investor expectations Seeking AlphaUS STOCKS-S&P 500, Nasdaq rise af
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 (Bloomberg) -- When talking about the biggest company in the world, it's not unusual for there to be eye-popping numbers. But Apple Inc.'s latest superlative is not one investors would like to see.Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out by a 19% slump. The latest bout of selling -- a 5.6% drop on Friday -- took out more than $120 billion alone. Apple's now worth $1.85 trillion and still the most valuable U.S. company, but the amount shaved from its ledger since its September peak is more than the entire market cap of Visa Inc., the seventh largest member of the S&P 500, and greater than the value of Thailand's stock exchange.The drawdown comes as the tech giant reported iPhone sales that missed analysts' estimates and gave no forecast for the holiday quarter. Fiscal fourth-quarter revenue from the iPhone was $26.4 billion, compared to expectations of $27.1 billion.The Nasdaq 100 Index plunged 2.6% on Friday and had its worst week since the coronavirus-induced selloff in March. Disappointing sales forecasts from tech companies like Apple, Twitter Inc. and Facebook Inc. are sparking worries about further growth potential in the names that led this year's rebound.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Tech stocks lead Wall Street lower as Covid and US election angst builds
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 Stocks pared losses but still closed lower on Friday to end an ugly week on a down note, with the Dow Jones Industrial Average booking its biggest monthly drop since March as investors reacted to rising COVID-19 cases in the U.S. and Europe. Nervousness ahead of Tuesday's presidential election -- and the potential for an unclear or contested outcome -- was also seen contributing to increased volatility, analysts said, with all three major indexes seeing their biggest weekly declines since the worst of the pandemic-inspired selloff in March. The Dow fell around 157 points, or 0.6%, to end near 26,502, according to preliminary figures, while the S&P 500 lost around 40 points, or 1.2%, to finish near 3,270 and the Nasdaq Composite gave up around 274 points, or 2.4%, closing near 10,912. The S&P 500 ended the week down 5.6% and fell 2.8% for the month, while the Dow booked a 6.5% weekly fall and a 4.6% monthly drop. Friday's decline saw the Nasdaq turn negative for the month, falling 2.3%. The index was down 5.5% for the week.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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