Dow Jones Tumbles 850 Points on Pandemic Fears; Microsoft Stock Sinks After Strong Earnings; Boeing Announces Layoffs

The COVID-19 pandemic is setting records in the U.S. and Europe in terms of confirmed cases. Both Germany and France are implementing new measures to slow the spread, and some cities and states in the U.S. may not be far behind. The U.S. recorded about 73,000 cases of COVID-19 on Tuesday, according to Johns Hopkins University.

Fears of a winter wave of COVID-19 shutting down economies led the major stock indexes to plunge on Wednesday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) down 2.95% at 1:55 p.m. EDT. Microsoft (NASDAQ: MSFT) and Boeing (NYSE: BA) beat analyst expectations with their quarterly reports, but the market rout was too much to overcome for both stocks.

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Source Fool.com