Day in Review: Sept 8, 2020

A daily recap of major events and headlines affecting the market with individual investors in mind.

  • Slack drops as revenue growth stays constant despite coronavirus. Slack’s revenue grew at around 50% for the third consecutive quarter, and the company reported more paying customers than analysts had expected.
  • U.S. Stocks Move Sharply Lower Amid Continued Weakness Among Tech Stocks. Stocks showed a significant move to the downside during trading on Tuesday, extending the pullback seen over the course of the two previous sessions. The major averages all showed substantial moves into negative territory.
  • Dr. Fauci says it’s ‘unlikely’ a coronavirus vaccine will be ready by U.S. election
  • Oil drops 8% to multi-month low on demand fears. Oil prices dropped to their lowest level since June on Tuesday amid fears of ongoing depressed demand.
  • Labor Day weekend air travel hits nearly 6-month high, but holiday caps dismal summer season