US stocks deepen losses, Dow Jones drops 650 points

The major US stock indices closed lower on Monday, extending losses amid growing concerns about the coronavirus crisis in the US and European countries.

This came after the US reported a record jump in coronavirus cases by more than 80,000 cases in a single day.

While no agreement has been reached between the US congressional leaders and the White House on the second Covid-19 aid package, amid expectations a deal won't be passed by Congress before the presidential election.

To the oil market, WTI crude November futures at Nymex fell 3.2% or $1.29, and closed at $38.56 a barrel, after hitting a high of $39.7 and a low of $38.2.

Brent December futures fell 3.1% or $1.31, to $40.46 a barrel, with a high of $41.6 and a low of $40.2.

As for stocks, Dow Jones fell 2.3% or 650 points, and closed at 27,685, after it hit a day high of 28,185 and a low of 27,370.

Nasdaq fell 1.6% or 189 points to 11,359 points, with a high of 11,545 and a low of 11,221.

S&P 500 fell 1.8% or 64 points to 3,401, with a high of 3,441 and a low of 3,364.