Stocks Drop Amid Virus Surge; Pound Trims Decline: Markets Wrap
- U.S. Covid deaths match April peak as hospitalizations jump
- Johnson will head to Brussels for crisis Brexit talks with EU
Stocks fell as coronavirus infections swept across U.S. states, triggering fears of more restrictions. The pound pared losses as the U.K. agreed on further talks with the European Commission to address the impasse over a trade deal.
The S&P 500 dropped from an all-time high, led by energy, real-estate and financial companies. Intel Corp. tumbled on news that Apple Inc. is planning a series of new Mac processors for introduction as early as 2021. Interactive Brokers Group Inc. sank after saying it was experiencing “a significant failure” across multiple parts of its data-storage system. The Nasdaq 100 rose for a ninth straight day -- its longest winning streak in almost a year. Boeing Co. jumped as UBS Group AG recommended buying shares of the planemaker. Airbnb Inc. boosted the price range of its initial public offering.