Stocks Ended Sharply Lower as COVID-19 Cases Surged

U.S. stocks ended sharply lower on Monday, as new data showed a jump in COVID-19 cases in both the U.S. and Europe. The Dow Jones Industrial Average lost 650.19 points, or 2.29%, to 27,685.38. The S&P 500 dropped 64.42 points, or 1.86%, to 3,400.97. The Nasdaq Composite fell 189.34 points, or 1.64%, to 11,358.94.

Oil futures declined Monday, sending prices to their lowest finish in just over three weeks, as COVID-19 cases in the U.S. and Europe continue to surge, raising alarm over demand for crude. West Texas Intermediate crude for December delivery fell $1.29, or 3.2%, to settle at $38.56 a barrel. December Brent crude dropped $1.31, or 3.1%, to settle at $40.46 a barrel.