ALEX VEIGA and DAMIAN J. TROISE
AP Business Writers
Stocks fell sharply on Wall Street Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors' hopes for a relatively quick economic turnaround.
The S&P 500 was down 2.6% in late-afternoon trading, giving back all of its gains for the month. The selling, which followed a skid in European stock indexes, accelerated around mid-morning on news that New York, New Jersey and Connecticut will require visitors from states with high infection rates to quarantine for 14 days.
While economic data is pointing to a recovery from the spring lockdowns that are being eased in the U.S. and other countries, the rise in new infections is stoking worries that the reopening of businesses may have to