Stocks Sink As Rising Coronavirus Cases Deepen Fears About Economy

The U.S. flag hangs outside the New York Stock Exchange on Oct. 14, 2020, in New York. Stocks sank on Wednesday as rising coronavirus cases spooked investors.

Frank Franklin II / AP

Updated at 11 a.m. ET

Stocks fell sharply on Wednesday as a spike in coronavirus cases deepened fears about the global economy.

As of midmorning, the Dow Jones Industrial Average was down 850 points, a decline of 3.1%, and is in negative territory for the month. The S&P 500 fell 3%, its third consecutive decline.