U.S. stocks slumped yesterday with the Dow shedding around seven per cent and the index on track for its sharpest one-day decline since 18th March.

US stocks fell as investors fretted over a resurgence in coronavirus infections and a grim economic outlook from the Federal Reserve.

The Dow Jones plunged 6.9 per cent, the S&P 500 tumbled 5.9 per cent and the Nasdaq Composite declined 5.3 per cent.