Wall Street slumps as rise in coronavirus cases dims economic outlook

The Dow Jones Industrial Average fell 361.05 points, or 1.31%, at the open to 27,102.14.

 Wall Street main indexes slumped on Wednesday as a surge in coronavirus cases in the United States and Europe dashed hopes of a quick global economic recovery.

Shares of hotels, airlines and other companies sensitive to Covid-19-related curbs dropped with Wynn Resorts down 2 per cent and the S&P 1500 airlines index declining 3 per cent. The energy index  lost about 3 per cent as oil prices fell on fears of lower fuel demand.

New cases and hospitalizations set records in the U.S. Midwest, while concerns over a national lockdown in France and tighter restrictions in Germany sapped investor appetite for risk. 

“Whether