Wall Street's main indexes drop at open as coronavirus cases surge

The Dow Jones Industrial Average fell 150.29 points, or 0.50%, at the open to 29,800.15

Wall Street’s main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country.

The Nasdaq’s losses were limited by a 12 per cent jump in Tesla Inc’s shares in anticipation of a $51 billion trade by index funds adjusting their holdings when the electric-car maker will be added to the benchmark S&P 500 in December.

The Dow notched an all-time closing high on Monday, finishing about 50 points shy of 30,000 after Moderna Inc’s promising COVID-19 vaccine data