Investors pulled out of U.S. corporate bonds on Wednesday as the three major stock indexes sold off on reports of higher COVID-19 cases worldwide and strict shutdowns planned in Europe.
* European stocks touch five-month low. * Germany and France prepare to announce restrictions. * US dollar rallies again; gold, silver slip. * Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn. By Rodrigo Campos.
* Airlines, hotels down on fears of pandemic-led curbs. * GE jumps on surprise profit, positive cash flow. * Boeing (BA) dips after quarterly results. * Indexes down: Dow 3.1%, S&P 2.9%, Nasdaq 3% By Medha Singh and Shivani Kumaresan.
The Cboe Volatility Index, known as Wall Street's "fear gauge," surged on Wednesday to its highest level in more than four months. In morning trade, the VIX was last at 40.35, its most elevated since June 15, as the benchmark S&P 500 stock index fell nearly 3% amid worries about the sharp rise in COVID-19 cases in the United States and Europe.
* Airlines, hotel stocks down on fears of pandemic-led curbs. * GE jumps on surprise profit, positive cash flow. * Boeing (BA) dips after quarterly results. * Indexes down: Dow 1.61%, S&P 1.68%, Nasdaq 1.97% By Medha Singh and Shivani Kumaresan.
Canada's main stock index fell on Wednesday, weighed by energy stocks as a surge in U.S. crude stockpile and rising coronavirus cases in the United States and Europe raised fears of a supply glut and weaker fuel demand.
The Cboe Volatility Index, known as Wall Street's "fear gauge," surged on Wednesday to its highest level in nearly two months. In morning trade, the VIX was last at 37.28, its most elevated since Sept. 4, as the benchmark S&P 500 stock index fell nearly 2% amid worries about the sharp rise in COVID-19 cases in the United States and Europe.
U.S. stocks fell in early trading Wednesday, as rising coronavirus infections shook investors' confidence in the global economic recovery and sent them toward the safety of Treasurys and the dollar. The S&P 500 dropped 1.8%, suggesting the broad index will retreat for its third consecutive session. The benchmark has slipped more than 5% from its record closing level in early September.
Energy stocks weighed Canada's main stock index at the open on Wednesday, as a surge in U.S. crude stockpile and rising coronavirus cases in the United States and Europe raised fears of a supply glut and weaker fuel demand. * At 9:31 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 201.91 points, or 1.26%, at 15,819.03.
- The S&P 500 and the Dow hit their lowest levels since late-September on Wednesday as coronavirus cases surged globally and fears of a contested U.S. presidential election next week added to worries.
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