The Dow tumbled more than 900 points as COVID-19 cases surge in the United States and Europe, while next week's election is only adding to the uncertainty over the economy.
Stocks reversed Tuesday's losses amid word that the Trump administration was considering stand-alone bills to aid airlines and small businesses. The president had called off talks on a relief bill.
Apple's stock split is the cause of the shake-up at the Dow Jones Industrial Average. But the symbolic shift also represents how Exxon, once a corporate titan, has diminished in stature.
The market is hitting records, in large part because of a handful of superstar tech stocks. Apple, Amazon, Microsoft, Facebook, Netflix and Google's parent dominate indexes in retirement funds.
Apple first crossed the $1 trillion mark just two years ago. The iPhone maker and a handful of other tech giants propelled the S&P 500 index to a new record this week.
After plummeting 34% from its prior peak, the stock index has staged a steady recovery — gaining more than 50% since March, when lockdowns shut down much of the economy.
Stock trading has become easier and cheaper than ever. And people stuck at home during the pandemic have flocked to it. But have venues like Robinhood made it too risky for inexperienced investors?
The electric car maker is now eligible to join the S&P 500 index, which means it would become part of the retirement accounts of millions of ordinary Americans.
