Stocks swoon to start 2021 as lockdowns sweep the globe

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U.S. stocks fell sharply on the first trading day of the new year as coronavirus vaccine rollouts faltered, case counts rose, and governments imposed fresh lockdowns. The Dow Jones Industrial Average lost 383 points, 1.3%, to close near 30,224, while the S&P 500 fell 55 points or 1.5%, to touch 3,701, based on early estimates. The Nasdaq Composite was down about 190 points, 1.5%, closing at about 12,698. All three benchmarks closed well off their lows for the day. Investors may also be on edge about the outcome of the Georgia congressional run-off election, to be held Tuesday. On Monday, shares of Brookfield Property surged nearly 18% after its parent company offered $5.9 billion to buy out public shareholders in the entity.
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