Markets head for fourth week of losses

U.S. stock markets on Friday slid, heading for their fourth consecutive week of losses as COVID-19 cases began ticking up again.

The Dow Jones Industrial Average opened down 140 points, or 0.5 percent, while the S&P 500 slid 8 points, or 0.3 percent.

After breaking new records in the first days of the month, markets have retreated significantly.

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Talks in Congress over trillions in new COVID relief floundered, though Speaker Nancy PelosiNancy PelosiPelosi slams Trump executive order on pre-existing conditions: It ‘isn’t worth the paper it’s signed on’ On The Money: Anxious Democrats push for vote on COVID-19 aid | Pelosi, Mnuchin ready to restart talks | Weekly jobless claims increase | Senate treads close to shutdown deadline Trump signs largely symbolic pre-existing conditions order amid lawsuit MORE (D-Calif.) injected new hopes by announcing on Thursday that House Democrats would draw up a more limited bill.

Still, Republicans want to pay out roughly $1 trillion less than Democrats, and the prospects for a deal remain in the air.