Tech slide hits Wall Street as coronavirus cases spiral [Reuters]
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Source: Reuters
Tech slide hits Wall Street as coronavirus cases spiral By Medha Singh , Shivani Kumaresan 3 Min Read (Reuters) - Wall Street’s major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The three main indexes were on course for their worst week since March on prospects of wider COVID-19 restrictions in Europe, while surging cases in the United States pushed hospitals to the brink of capacity. The CBOE volatility index held at a 20-week high ahead of the final weekend before Election Day on Tuesday. “We’re two market days away from Election Day and people want to make sure that they’re not completely caught off guard,” said Pete Santoro, a Boston-based equity portfolio manager at Columbia Threadneedle. Apple Inc tumbled about 5.5% after it posted the steepest drop in quarterly iPhone sales in two years due to the
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