Wall Street slides to seven-week low on new lockdown fears; Dow falls 3%

Wall Street's main indexes have tumbled in the past three weeks as investors dumped heavyweight technology-related stocks

Wall Street's main indexes slid to seven-week lows on Monday, with the S&P 500 and Dow each tumbling more than 2 per cent, as concerns about fresh coronavirus-driven lockdowns in Europe raised fears the US economy faces a longer road to recovery than expected.

The death of US Supreme Court Justice Ruth Bader Ginsburg increased the likelihood another stimulus package will not be approved in Congress before the Nov. 3 presidential election and sparked large declines in the healthcare sector.

The Dow shed as much as 900 points and the CBOE Market Volatility index, Wall Street's fear gauge, shot up