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Wall Street drops 1% as virus surge fans recovery fears

FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri

(Reuters) – Wall Street’s main indexes fell sharply at the open on Monday, with economy-linked value and travel stocks taking a hit after a spike in global COVID-19 cases raised fresh concerns about slowing economic growth.

At 09:31 am, the Dow Jones Industrial Average fell 463.52 points, or 1.34%, to 34,224.33, the S&P 500 lost 50.24 points, or 1.16%, to 4,276.92 and the Nasdaq Composite lost 163.29 points, or 1.13%, to 14,263.95.

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