U.S. stocks fell sharply on Monday due to rising cases in Europe and numerous geopolitical risks. Dow Jones Industrial Average DJIA,
-2.89%
The S&P 500 index, SPX, fell 664 points, or 2.4 per cent, to 26,991.
-2.51%
The Nasdaq Composite Index COMP, down 2.1% at 3,248.
-2.20%
1.6% to 10,616. In Corporate News, Nicola NKLA,
-18.01%
Founder and Chairman Trevor Milton has been battling claims filed by a short seller over the past few weeks. The growing number of COVID-19 cases across several European economies has raised concerns about the imposition of new restrictions on operations. London Mayor Sadiq Khan on Monday discussed ways to prevent the spread of the corona virus. Meanwhile, U.S. and European bank shares plummeted as Busfeed News and other lets published articles accusing the world’s most powerful banks of continuing to trade with customers suspected of engaging in money laundering and other illegal activities. SPDR Financial Select Sector ETF XLF,
-2.87%
It fell sharply on Monday.