Stock indexes on Monday fell as markets opened for the week, amid traders’ concerns about an increase in coronavirus cases in parts of the country.
In early trading, the Dow Jones Industrial Average fell about 600 points, the S&P 500 fell about 60 points and the NASDAQ composite fell about 150 points.
The down start to the week comes after markets saw losses last week. The Dow fell more than 1,800 points Thursday before rebounding some on Friday, but it was not enough to fully make up for the earlier losses.
The recent declines in the stock market come as a number of states have reported increases in coronavirus cases. They also come after Federal Reserve Chairman Jerome Powell last week said that he thinks the U.S. economy faces a “long road” to recovery.
Stocks fell significantly in late February and March, as the coronavirus started to derail the economy. But they then started to climb again in April and May, as traders seemed hopeful that the economy would recover quickly amid slow reopenings nationwide.