Dow Jones drops more than 700 points, dives below 27,000

The main US stock benchmarks fell on Wednesday for the third straight session, as the coronavirus crisis continued to worsen due to the rising number of infections.

Data showed today that the US goods trade balance logged a deficit of about $79.4 billion, worse than forecasts of a deficit by $84.8 billion.

Coronavirus infections jumped to more than 44 million cases globally, with the death toll near 1,072,000 victims.

The number of Covid-19 cases in the US alone rose to more than 9 million, with more than 232,000 victims.

As for stocks, Dow Jones fell 2.6% or 706 points to 26,750 as of 15:23 GMT, Nasdaq fell 2.9% or 333 points to 11,096, and S&P 500 2.7% or 92 points to 3298.