US stocks cratered on Wednesday as a spike in COVID-19 cases prompted new lockdowns in Europe. The Dow Jones industrial average's 3.4% decline marked its worst single-day drop since June 11, while the S&P 500's 1.9% drop was its largest since September 23. German Chancellor Angela Merkel struck a deal for a "lockdown light," in which bars, restaurants, gyms, and movie theaters will close for at least a month starting this weekend while schools and nurseries remain open, Bloomberg reported. French President Emmanuel Macron announced a new national lockdown to begin this Friday and last until December 1, though, like ... (full story)