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Dow sinks 1,800 as virus cases rise, deflating optimism

Dow sinks 1,800 as virus cases rise, deflating optimism Photo: WDIO-TV

ALEX VEIGA and DAMIAN J. TROISE AP Business Writers
Created: June 11, 2020 02:46 PM

Stocks are falling sharply on Wall Street as coronavirus cases increase again, deflating recent optimism that the economy could recover quickly as lockdowns ease. The Dow fell more than 1,800 points and the S&P 500 was on track for its worst day since mid-March.

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Many market watchers have been saying that a scorching comeback in the market since late March was overdone and didn't reflect the dire state of the economy. A day earlier, the Federal Reserve said the road back to recovery would be long.

Bond yields fell sharply, a sign of increasing caution among investors. Oil prices sank.

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ALEX VEIGA and DAMIAN J. TROISE AP Business Writers

Copyright 2020 The Associated Press. All rights reserved.

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