Dow Drops Near 1,000pts, while Gold Hits a Month Low as Fear Strikes the Market!

The U.S. stock market continued to plunge, paving the way to a three-week loss as investors retreated from the heavyweight technology-related stocks, while concerns about the new lockdown due to the resurgence of coronavirus and the delayed stimulus packages weighed the market down.

 

The Dow Jones Industrial Average fell as much as 934 points or 3.4%, while S&P 500 lost 2.6% and the tech-heavy Nasdaq plunged 2.1%.

Concerns started to grapple on investors sentiment after the report that U.K. is considering another national lockdown to stop the rising coronavirus cases. Every European stock dropped more than 3% on Monday.

Meanwhile, the American citizens were concerned over the unsettled stimulus bill that the Congress failed to agree upon, raising fears among investors of another hit to the U.S. economy.

To everyone’s surprise, gold prices are also rolling down from the peak, dropping over 3% on Monday to its lowest level in more than a month as investors were reportedly selling their assets in fear of the U.S. uncertainty.