The Dow Jones Industrial Average and S&P 500 fell for a second day on Tuesday as the coronavirus continues to batter the U.S.
The 30-stock index boarded the “down” elevator 126.52 points to 27,558.86, after a 650-point loss Monday, its biggest one-day drop since Sept. 3.
The S&P 500 doffed 4.67 points to 3,396.30
The NASDAQ recovered 63.74 points to 11,422.68.
A slew of large-cap companies reported quarterly earnings on Tuesday, including Dow components 3M and Caterpillar. Caterpillar reported a steep drop in year-over-year earnings, sending the stock down more than 3%. 3M, meanwhile, slid 1.3% even after posting stronger-than-expected earnings and revenue.
Wall Street is also gearing up for Microsoft earnings after the bell on Tuesday. The technology giant saw revenue grow 13% during the second quarter despite the pandemic.
AMD said it was buying rival Xilinx in a $35-billion all-stock deal in a push for the data center market. Xilinx gained 8.8% on the news. AMD shares dipped 4.1%.
Friday and Saturday saw cases spike above 83,000, according to data from Johns Hopkins University. The data on Sunday also showed the country has reported a record average of 69, 767 cases per day over the past seven days.
Prices for the 10-Year Treasury gained slightly, lowering yields to 0.78% from Monday's 0.80%. Treasury prices and yields move in opposite directions.
Oil prices regained 54 cents at $39.10 U.S. a barrel.
Gold prices gained $3.60 to $1,909.30