October 26, 2020

Stocks had their worst day in nearly two months as the US hit a record number of daily new COVID cases over the weekend and hopes of stimulus aid are dwindling as next week’s election nears. The US saw over 83,000 new cases on Friday and Saturday, the highest daily number since the pandemic began in March. Globally, cases are also rising in Europe and Asia. Gold held firm around $1,900, breaking away from its tendency to move in tandem with equities over the past several months. The Dow shed 650 points to finish at its lowest level in 3-weeks and the Nasdaq and S&P 500 dropped 1.64% and 1.86% respectively.