EDITOR'S NOTE
It was another tough day on Wall Street as concerns over the recent uptick in coronavirus cases and its impact on the global economic recovery sparked a broad market sell-off.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all dropped more than 3% on Wednesday. Those losses erased the monthly gains for the S&P 500 and Nasdaq. It was also the biggest one-day decline for the Dow since June.
U.S. Covid-19 cases have risen by a record daily average of about 71,832 over the past week, data compiled by Johns Hopkins University showed. Cases are also climbing across Europe, leading to some countries in the region reinstating certain social distancing measures. 
German officials agreed to a four-week partial lockdown. The French government was also expected to impose new restrictions to stem the recent coronavirus increase. In the U.S., the state of Illinois has ordered Chicago to shut down indoor dining.
"The lockdowns without the stimulus equals what we're seeing," CNBC’s Jim Cramer said Wednesday. "I think there's going to be a call for lockdowns the likes of which we've seen in Chicago."
Bottom line, the increasing concerns around the coronavirus pandemic set up the broader market for even more volatility as the U.S. presidential election quickly approaches.
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