Stocks end sharply lower as investors battered by COVID-19 case surge

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U.S. stock-market benchmarks ended sharply lower on Monday, but off their intraday lows amid investors jitters around rising COVID-19 cases in the U.S. and Europe. The S&P 500 fell 64 points, or 1.9%, to finish around 3,401. The Dow Jones Industrial Average slipped 650 points, or 2.3%, to end near 27,686, based on preliminary numbers. The Nasdaq Composite slumped 189 points, or 1.6%, to close around 11,359. Spain and Italy imposed new restrictions to limit the spread of the coronavirus, reviving concerns policymakers may institute lockdown measures. On the earnings front, Germany-based software giant SAP SE SAP , issued a profit and sales warning, sending shares of business software companies lower. Shares of Oracle , Salesforce.com and Microsoft Corp. all lost ground.
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