Dow falls 509 points, S&P 500 marks 4 straight days of losses

The Dow Jones Industrial Average recorded its worst day since the beginning of the month and the S&P 500 fell for the fourth consecutive day as markets are primed for their worst September in years. Photo by John Angelillo/UPI

Sept. 21 (UPI) — The Dow Jones Industrial Average recorded its worst day in about two weeks on Monday amid ongoing concerns about the COVID-19 pandemic.

The blue-chip index fell 509.72 points, or 1.84%, its worst day since Sept. 8, when it fell 2.3%. The S&P 500 marked its fourth straight day of losses for the first time since February as it dropped 1.16% and the Nasdaq Composite notched slight losses, falling 0.13%.

Stocks that would benefit from the lifting of restrictions related to the pandemic declined amid reports Britain was considering a renewed lockdown. Carnival cruise line stock fell 6.66%, Delta Air Lines stock fell 9.25% and Southwest Airlines dropped 5.8%.

Bank stocks also suffered Monday as Deutsche Bank dropped 8.25% and JPMorgan Chase slid 3.09%.

Tech stocks, which have served as a bellwether for the larger market in recent months, rebounded from losses last week as Netflix grew 3.7%, Apple gained 3.03%, Microsoft increased 1.07% and Amazon closed the day up 0.19%.

Monday’s declines put the market on pace for one of the worst September declines in years.

The S&P 500 was down 11% on the month, its worst September since 2002, the Dow was down 5.6%, its worst drop since 2011, and the Nasdaq has fallen 9.8%, its worst September decline since 2008.


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