Stock Market Sales: Dow Drops 700 Points on Worst Drop Since October As Delta Variant Fear Mount

Stocks plummeted on Monday as the outbreak in the United States fueled expert concern that Delta's highly contagious Delta variant of Covid-19 could promote renewable barriers and ultimately reduce economic recovery.

KEY FACTS

The Dow Jones Industrial Average posted its one-point decline on the big day since widespread uncertainty in the election on October 28, fell nearly 725 points, or 2.1% on Monday, while the S&P 500 spent 1.6% on its biggest decline since in May; both indicators are 3% below their closing high on July 12.


Demonstrating uncertainty about economic recovery, travel and leisure stocks have largely led market losses, with Carnival Corp., American Airlines, United Airlines and Norway Cruise Lines accounting for between 4.5% and 6% each.


Oil stocks, often underperforming as the market struggles, were also heavily affected: Marathon Oil and Occidental fell by about 5% and 4%, respectively, following a weekend agreement between international oil producers to cut new oil prices almost immediately. by 8%.


Nasdaq's heavy-duty technology fell slightly to 1.1%, was slightly overestimated by biotechnology and the world's most successful pharmaceutical companies, including Moderna, Cytokinetics and Applied Therapeutics.


However, many high-tech companies are set to report revenue before the end of the month posting huge losses, with Facebook and Apple falling by 1.2% and 2.7%, respectively.


In an email on Monday, Oanda Senior Market Analyst Edalyst Ed Moya said investors were "growing anxious" and selling stocks, commodities and cash to buy US Treasurys, securities generally collected on Monday and yielded yields for a ten- to five-month period. 1.2% lower.