U.S. stock markets broke a 4-day winning streak Thursday, as the cumulative COVID-19 infection count surpassed 4 million and the death toll from the disease ticked up.
The Dow Jones Industrial Average fell 354 points, or 1.3 percent, and the S&P 500 dropped 41 points, or 1.2 percent.
Renewed outbreaks have forced some states to reinstate tougher social distancing measures that affect businesses. Initial Unemployment Claims rose for the first time in months, and remain in the millions, over double their weekly levels during the Great Recession more than a decade ago.
The death toll has also climbed, surpassing 1,100 twice this week for the first time since May.
Whether the news continues to drag down markets remains an open question.
In recent weeks, markets have shrugged off some of the most dire COVID-19 related news, and have continued rising amid low interest rates and broad stimulus from the Federal Reserve pumps up asset prices.
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