Dow dips on rising pandemic rates


The Dow Jones and S&P 500 both dipped on Monday following a record-setting session as traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.

The 30-stock Dow closed 148.47 points lower, or 0.5%, at 30,069.79 and snapped a four-day winning streak. The S&P 500 dipped 0.2% to 3,691.96. The Dow and the S&P 500 had closed at all-time highs on Friday. The Nasdaq did rise 0.5% to 12,519.95 and hit a fresh record high.

Value stocks — which had been on a tear recently — lagged their growth counterparts on Monday as uncertainty grew over the near-term economic outlook. The iShares Russell 1000 Value ETF (IWD) dipped 0.6%, and the iShares Russell 1000 Growth ETF (IWF) climbed 0.4%.

The energy sector led the S&P 500 lower, sliding 2.4%. Facebook rose 2.1%, and Apple gained 1.2% to lead the Nasdaq higher. Tesla also contributed to the Nasdaq’s gains, advancing 7.1% and reaching an all-time high. Intel was the worst-performing Dow stock, falling 3.4%.