Stocks tumble as case counts jump

U.S. stocks closed sharply lower as strong corporate earnings weren’t enough to offset surging coronavirus cases around the world. The Dow Jones Industrial Average lost 257 points, 0.8%, to close near 33,821, while the S&P 500 slipped 28 points, 0.7%, and ended near 4,135, according to preliminary estimates. The Nasdaq Composite tumbled 129 points or 0.9% and closed at about 13,786. Analysts said stocks may have been consolidating after hitting fresh highs last week. Procter & Gamble Co. shares ticked up after the consumer staples maker reported fiscal third-quarter earnings that beat estimates and said it would be raising prices on some products. India’s prime minister, Narendra Modi, said he would address the nation tonight, as COVID-19 cases topped 15 million.

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