Stocks sink, reversing recent gains, as virus cases spike
Last updated 6/11/2020 at 11:13am
ALEX VEIGA and DAMIAN J. TROISE
AP Business Writers
Stocks are down sharply on Wall Street Thursday, pulling the Dow Jones Industrial Average more than 1,500 points lower and placing the S&P 500 on track for its worst day in nearly three months.
The S&P 500 was down 4.7% in afternoon trading, extending its losses into a third straight day. The benchmark index is now on track for its first weekly drop in four weeks.
The selling, which gained momentum as the day went on, comes as recent optimism that the reopening of businesses would drive a relatively quick economic recovery fades amid risin...