Dow loses grip on 30,000 early Monday as investors are concerned about the spread of the coronavirus; Tesla sees the first transaction as an S&P 500 member

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US stocks opened lower early Monday to kick off Christmas week as the coronavirus stimulus deal overshadowed concerns about a new COVID-19 strain in Europe. The Dow Jones Industrial Average DJIA,
-1.25%
traded 200 points, or 0.7%, lower on 29,985, the S&P 500 SPX,
-1.80%
retreated 1% to reach 3,673. The Nasdaq Composite Index COMP,
-1.68%
lost 102 points, or 0.8%, early on Monday to reach 12,652. Congress’s efforts for a new aid package to combat the adverse economic effects of the pandemic were accompanied by an annual fiscal spending package of about $ 1.4 trillion, with lawmakers to vote on a bill later Monday. However, investors are focused on tightened lockdown measures in London, where reports of a new strain of the coronavirus causing COVID-19 have shaken investor confidence. Markets also target Tesla Inc. TSLA,
-4.75%,
experiencing its first day of trading as an S&P 500 member.

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