WASHINGTON (Dispatches) – U.S. stocks fell into red territory Thursday, with the Dow Jones Industrial Average index plummeting more than 350 points as skyrocketing COVID-19 cases prompted concerns over the U.S.’ economic recovery.
At closing bell, the Dow Jones fell by 361.19 points, as the S&P 500 saw a 17.89-point loss. However, the tech-heavy NASDAQ managed to stay in the green with a gain of 55.25 points.
Shares that suffered blows during the day’s trading included those of the travel industry’s Royal Caribbean Cruises and American Airlines Group, as well as stocks tied to retail stores Walgreens and Bed Bath & Beyond, among other hard-hit companies.
U.S. markets, however, hit their worst lows of the day after the Florida Department of Health reported 8,935 new COVID-19 cases, bringing the total number of cases confirmed in the Sunshine State to 232,718.
According to the Sarasota Herald-Tribune, the rate of positive tests for the whole of Florida was a whopping 19.5% for the past seven days.