Big sell-off on Wall Street | Average daily Covid-19 cases at record | Stimulus hopes crumble

And just like that, the Dow Jones Industrial Average's gains for the month were gone.

VIEW IN BROWSER | SUBSCRIBE MON, OCT 26, 2020 EVENING BRIEF AS OF MON, OCT 26, 2020 • 04:31 ET DJIA 27685.38 -2.29% -650.19 S&P 500 3400.97 -1.86% -64.42 NASDAQ 11358.94 -1.64% -189.35   Most Active DOW NAME LAST CHG %CHG AAPL 115.05 +0.01 +0.01% INTC 46.72 -1.48 -3.07% MSFT 210.08 -6.15 -2.84% S&P 500 NAME LAST CHG %CHG AAPL 115.05 +0.01 +0.01% GE 7.38 -0.25 -3.28% AAL 11.80 -0.80 -6.35% NASDAQ NAME LAST CHG %CHG AAPL 115.05 +0.01 +0.01% AAL 11.80 -0.80 -6.35% AMD 82.23 +0.27 +0.33%   EDITOR'S NOTE And just like that, the Dow Jones Industrial Average's gains for the month were gone.   The 30-stock average plunged 650 points, or 2.3%, on Monday as traders grappled with a rising number of coronavirus cases as well as the dimming prospects of U.S. lawmakers reaching a new stimulus deal before the election.   That decline erased the Dow's gain for October and marked the Dow's worst one-day performance since Sept. 3. The S&P 500 and Nasdaq Composite were also under pressure, falling more than 1.6% each. "Stocks [began] the week in the red as challenging stimulus and coronavirus headlines disappoint a market that is ripe for disappointment," Willie Delwiche, investment strategist at Baird, wrote in a note. "These headlines and election-related jitters could serve a useful purpose IF they allow for a meaningful unwind in optimism while not inflicting significant broad market damage."   The decline was led by stocks with the most to lose from rising cases and a stalled stimulus plan. United Airlines, Royal Caribbean and Norwegian Cruise Line were among the worst-performing names in the S&P 500.   Monday's drop also comes as traders brace for next week's presidential election. Former Vice President Joe Biden maintains a sizable lead over President Donald Trump in national polls, although the gap has narrowed slightly as of late.   "With the election about a week away, November could take the cake when it comes to volatility depending on timing of the outcome," said Chris Larkin, managing director of trading and investment product at E-Trade.     Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes 650 points lower, posts worst day since early September Average daily new coronavirus cases in U.S. hit all-time high, Gottlieb warns of 'exponential spread' It 'looks like the clock has run out' on a new stimulus, says Fundstrat's Washington strategist Trump claims the worsening U.S. coronavirus outbreak is a 'Fake News Media Conspiracy' even as hospitalizations rise AstraZeneca says its coronavirus vaccine triggers immune response among adults SAP just saw $35 billion wiped off its market cap and it's on track for its worst trading day in 12 years Pelosi slams Trump administration over virus testing as stimulus negotiations remain deadlocked Record earnings beat is still not good enough for the market and profit misses are severely punished Senate set to confirm Judge Amy Coney Barrett to Supreme Court on Monday Democrats urge Bloomberg to invest in Senate races as McConnell-linked super PAC spends big   TOP VIDEO What investors should know about ETFs ahead of 2021   CNBC PRO Value investor Bill Nygren just exited a high-flying tech position and bought a consumer staple   SPECIAL REPORTS How Popeyes is trying to beat Chick-fil-A in the chicken sandwich wars These 3 tax moves will help you save, regardless of who wins the election   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS