S&P 500 falls 3% on new virus wave fears, Fed's cautious outlook

(Reuters) – U.S. stocks extended losses on Thursday, with the S&P 500 on track for its sharpest percentage decline since April 1, as investors worried about a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.

At 11:01 a.m. ET, the Dow Jones Industrial Average .DJI was down 1,052.92 points, or 3.90%, at 25,937.07, the S&P 500 .SPX was down 105.03 points, or 3.29%, at 3,085.11. The Nasdaq Composite .IXIC was down 249.77 points, or 2.49%, at 9,770.57.

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