Stock markets slide over rising Covid-19 cases

New York, Oct 27 : US stock markets suffered their sharpest drop in weeks as concerns about the economic impact of surging coronavirus cases sent shares tumbling.
The Dow Jones Industrial Average closed down 2.3 per cent, after dropping more than 3 per cent earlier in the day. The S&P 500 fell 1.8 per cent and the Nasdaq 1.6 per cent, the BBC reported on Monday.
Stocks in Europe, where a rise in virus cases has prompted new restrictions, also declined.
Shares in travel and energy firms took some of the heaviest losses.
In the United States, cruise lines Royal Caribbean Group,Carnival and Norwegian all dropped more than 8 per cent, while in the UK, British Airways owner IAG closed 7.6 per cent lower.
Travel firms have been some of the most sensitive to warnings about the virus, which experts worry will intensify as winter approaches.