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 U.S. stocks suffer a sharp selloff on Wednesday but avoid a much uglier loss for the main benchmarks, as investors contend with the COVID-19 trajectory in Europe and a lack of progress toward another round of fiscal stimulus out of Washington.
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CDC abruptly reverses guidance on COVID-19 airborne transmission CBS Evening NewsCoronavirus update: CDC changes — then deletes — new guidance on airborne transmission Yahoo FinanceCDC abruptly removes guidance about airborne coronavirus transmission, says update 'was posted in error' CNNCDC Spreads Confusion and Anger With a Stunning Covid Reversal TheStreet
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A host of new concerns dragged the major indices lower to start the week and put the S&P 500 closer to an official correction after weeks of declines.
Supreme Court Justice Ruth Bader Ginsburg passed away late Friday, throwing even more turmoil into 2020's political landscape as elected officials and Americans argue over the process of nominating an RBG replacement who might drastically shift the balance of the Supreme Court.
SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now
And across the pond, several European nations are considering new restrictions to fight off what appears to be a second wave of COVID-19 outbreaks, spurring concerns about a similar fate in the U.S.
The S&P 500 dropped 1.2% to 3,281, putting it less than 2% away from correction territory (a decline of 10% or more from a peak) and putting it in danger of absorbing its worst September performance since sliding 11% in 2002.
While most of the major indices finished well off their lows, the Nasdaq Composite rebounded sharply and finished with a much more modest 0.1% decline to 10,778. Apple (AAPL, 3.0%) and Microsoft (MSFT, 1.1%) both finished well in the black.
"Investors should take a binary approach to the market at this point," says Marc Chaikin, founder of Chaikin Analytics, a quantitative investment research firm, based in Philadelphia. "Remain bullish but raise some cash as technology stocks bounce in the near-term. Look for opportunities to redeploy that cash as this short-term pullback plays out over the next 2-4 weeks."
"Buying the d
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Boosted by the powerful rally in its shares this year, Elon Musk's company has seen its rivals' electric vehicles sputter
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Oil futures drop Monday, sending U.S. prices down by more than 4%, on expectations Libyan crude will soon return to the market, while worries over a rise in European COVID-19 cases and a global equity market selloff added to the negative tone.
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CDC walks back guidance on aerosol spread of coronavirus CBS NewsCoronavirus update: CDC changes — then deletes — new guidance on airborne transmission Yahoo FinanceCDC abruptly removes guidance about airborne coronavirus transmission, says update 'was posted in error' CNNUpdated CDC guidance acknowledges coronavirus is an airborne virus KITV HonoluluCDC abruptly reverses guidance on COVID-19 airborne transmission CBS Evening News
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 Oil futures settled lower Monday, with U.S. prices down by more than 4%, as the market braced for the return of crude output from Libya following reports that Libyan military commander Khalifa Haftar will lift an eight-month blockage of crude exports that had shut nearly all of the country's production. Concerns over the possibility of more COVID-19 shutdowns and weaker energy demand also weighed on prices. October West Texas Intermediate oil fell $1.80, or 4.4%, to settle at $39.31 a barrel on the New York Mercantile Exchange.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Over the last several months, therapists have seen more marital conflict due to COVID-19. It turns out that, for couples who already have cracks in their marriage, being cooped up together, 24/7, is like putting salt on an open wound.
SEE MORE Thinking About Divorce? 5 Steps to Save Time, Money
However, not all unhappy couples are running to divorce lawyers. Robert Moses, a top matrimonial attorney with Moses Ziegelman Richards & Notaro in New York City, reports that he has not seen a stampede of new clients. "Many of my colleagues have not seen a great uptick yet in new divorce matters right now, but it is the summertime. It's possible that when the weather gets worse people will not want to stay cooped up with a spouse they want to divorce."
Aside from the weather, there are several other reasons why many are staying put, deciding to defer the date of their divorce.
Housing issues are holding couples together
Many couples decided to escape urban life during quarantine, landing in the suburbs, and beyond. According to a recent Harris Poll, 39% of Americans are considering moving to less crowded cities due to the pandemic. They are putting down roots, enrolling their kids in these school districts, and waiting to divorce until there is more clarity around the COVID situation, later in the year. There are just too many variables for these families to know where they will end up living, long-term. Starting a divorce action in their current location would not be ideal if the family decided to move back to their city of origin.
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