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GLOBAL-MARKETS-Stocks fall, dollar up on COVID-19, frothy market concerns


Reuters Live Markets blog:
NEW YORK/LONDON, Jan 27 (Reuters) - Stocks fell and the dollar rose on Wednesday as investors turned more cautious about COVID-19 and stretched stock valuations, with the U.S Federal Reserve meeting and a glut of corporate earnings also in focus.
Investors parsed through earnings reports from companies including Boeing and Microsoft, ahead of the Federal Reserve’s policy statement later in the day.
The Dow Jones Industrial Average fell 547.59 points, or 1.77%, to 30,389.45, the S&P 500 lost 74.03 points, or 1.92%, to 3,775.59 and the Nasdaq Composite dropped 275.52 points, or 2.02%, to 13,350.55.
“There is plenty of discussion on Covid-19 variants, lockdowns, earnings, and co-ordinated retail assaults on single names to more than dampen risk appetite,” said Stephen Innes, chief global markets strategist at Axi. ....

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