Stocks tumbled Wednesday as new COVID-19 cases in the U.S. rebounded to highs from the peak of the outbreak, raising fresh doubt

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Stocks tumbled Wednesday as new COVID-19 cases in the U.S. rebounded to highs from the peak of the outbreak, raising fresh doubts about an economic recovery.

Stocks tumbled Wednesday as new COVID-19 cases in the U.S. rebounded to highs not seen since the peak of the outbreak, raising fresh doubts about the strength and longevity of an economic recovery. The country reported 34,700 new cases of the virus on Tuesday as cases surged in states that reopened early from lockdowns intended to curb the disease's spread. Higher numbers have been reported on only two other days: April 9 and April 24, when a record 36,400 cases were logged. The Dow Jones Industrial Average dropped 233 points, or 0.89 percent, while the broader S&P 500 and the tech-heavy Nasdaq Composite fell 0.68 percent and 0.33 percent, respectively.

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