U.S. stocks are on track for their steepest weekly decline since the pandemic took hold in March, after Wednesday marked the S&P 500 Index’s biggest drop in more than four months. While stocks wavered between smalls gains and losses Thursday, the moves have come as rising coronavirus cases and new lockdowns in Europe have cast a shadow over the world economy. Aside from the virus, market participants say the possibility of a fiscal stimulus deal ahead of next week’s presidential election and earnings from major tech giants are behind this week’s volatility.
