Stocks Tumbled at Open, Dow Fell over 600 Points

U.S. stocks open sharply lower on Monday, as investor jitters over rising coronavirus cases in key parts of the country stirred up an extension of last week’s pullback in equities. The Dow Jones Industrial Average lately fell 685.71 points, or 2.68%, to 24,919.83. The S&P 500 lost 68.53 points, or 2.25%, to 2,972.78. The Nasdaq Composite declined 165.80 points, or 1.73%, to 9,423.01.

Oil futures on Monday traded sharply lower as concerns about new cases of coronavirus in parts of the world dimmed optimism about the economic outlook and therefore appetite for crude. West Texas Intermediate crude for July delivery were trading down $1.42 or nearly 4%, at $34.84 a barrel. Brent oil for August delivery declined $1.07, or 2.8%, at $37.64 a barrel.