Wall Street slides at open on fears of second virus wave

Posted on June 11, 2020

The spread of the coronavirus disease (COVID-19) in New York

Traders wear masks as they work on the floor of the New York Stock Exchange in response to the outbreak of the coronavirus disease (COVID19) in the Manhattan borough of New York, U.S., May 27, 2020. (REUTERS/Lucas Jackson)

BY DEVIK JAIN

U.S. stocks opened sharply lower on Thursday with the Nasdaq falling after a four-day rally on fears of a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.

The Dow Jones Industrial Average <.DJI> fell 707.48 points, or 2.62%, at the open to 26,282.51. The Nasdaq Composite <.IXIC> dropped 229.11 points, or 2.29%, to 9,791.24 at the opening bell. The S&P 500 <.INX> was down 88.15 points, or 2.76%, at 3,101.99 after market open.