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Stocks sank on Wednesday as COVID-19 fears gripped investors across the globe as Germany and France announced new lockdown measures.

All three of the major averages saw the worst week since March with the Dow Jones Industrial Average down over 940 points or 3.4%, while the Nasdaq Composite and S&P 500 declined more than 3.5%. Both the S&P 500 and Nasdaq are now negative for the month of October.

Oil slipped over 5% to the $37 per barrel level, registering its worst session since September. Gold traded down marginally to $1,876.20 an ounce, down 0.5%.

Dow members Microsoft and Chevron paced the drop along with Boeing after it announced it will be cutting workers as it reported its fourth straight quarterly loss as the pandemic continues to hurt business. Read more at FOX Business