Stocks drop 2% | Record spike in Florida coronavirus cases | Airline stocks tumble

Stocks took a turn for the worse amid a spike in coronavirus infections.

VIEW IN BROWSER | SUBSCRIBE WED, JUN 24, 2020 EVENING BRIEF AS OF WED, JUN 24, 2020 • 04:53 ET DJIA 25445.94 -2.72% -710.16 S&P 500 3050.33 -2.59% -80.96 NASDAQ 9909.17 -2.19% -222.20   Most Active DOW NAME LAST CHG %CHG BA 176.69 -11.19 -5.96% AAPL 360.06 -6.47 -1.77% MSFT 197.84 -4.07 -2.02% S&P 500 NAME LAST CHG %CHG GE 6.53 -0.47 -6.71% AAL 13.04 -0.96 -6.86% NCLH 15.80 -2.23 -12.37% NASDAQ NAME LAST CHG %CHG AAL 13.04 -0.96 -6.86% TMUS 108.43 +1.27 +1.19% UAL 33.07 -3.01 -8.34% EDITOR'S NOTE No one ever really sounded the all-clear on the coronavirus pandemic, but investors have been able to ignore it like spring break partiers.   Stocks plunged Wednesday, dampening confidence in what has been a V-shaped recovery for equities. The dip came after Florida said its confirmed cases spiked by a record 5,508. Worse, the percentage of positive results from Covid-19 testing in the state rose to 15.91% from 10.82%.   "The stock market … was betting the worst of the pandemic recession was behind us," said Chris Rupkey, chief financial economist at MUFG Union Bank.  "All the hopes of investors looking for a better economy to improve the bottom lines of companies shut down in the recession have been dashed." Cases are surging nationally as well, threatening to set back reopenings, travel plans and the economic recovery.    New York, New Jersey and Connecticut ordered visitors from hotspot states to quarantine, and Walt Disney World employees petitioned to delay reopening the Florida park. Both moves give would-be travelers additional reasons to postpone plans.   "We have entered a new phase of this crisis," said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow drops more than 700 points in worst day since June 11 as virus resurgence concerns grow Florida reports another record spike in coronavirus cases, up 5.3% in a day New York, New Jersey and Connecticut impose 14-day quarantine on travelers from coronavirus hotspot states Walt Disney World employees petition to delay reopening as coronavirus cases surge in Florida Airline shares tumble as New York imposes quarantines, Florida cases spike Coronavirus: Federal government will end funding for 13 community-based Covid-19 test sites, most in Texas California reports more than 7,000 coronavirus cases, biggest daily jump so far Here are the top stay-at-home trades if there is a coronavirus resurgence Biden's big lead in the polls could be partly behind market's drop and may lead to more weakness The Fed said it could supply the economy with $2.3 trillion. It hasn't come close so far     TOP VIDEO IMF chief economist Gita Gopinath on cutting the global outlook   CNBC PRO 'Remarkable' recovery to spark 30% rally in these housing stocks, says top analyst Ivy Zelman   SPECIAL REPORTS Peloton hits record, and chart indicates another 28% rally ahead This is AbbVie stock's key level after upgrade, says market analyst   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