Wall Street Ends Sharply Lower Over Concerns That The Delta Variant Will Hold Back The Global Economy

Stocks sank on Monday with the Dow plunging more than 800 points as investors feared a surge in COVID-19 cases caused by the Indian Delta variant could hold back the global economy

Daily Mail: The Dow plunges nearly 800 points in midday trading as investors fear Indian Delta variant could hold back the global economy

* The Dow Jones Industrial Average was down 786 points as of midday on Monday

* The S&P 500 fell 1.6% in the first half hour of trading, after setting a record high just a week ago. The Nasdaq composite was 1.5% lower

* Airlines, hotels and stocks of other companies that would get hurt the most by potential COVID-19 restrictions were taking the heaviest losses

* Financial markets have been showing signs of increased concerns for a while, but the U.S. stock market had remained largely resilient

* The drop was global with several European markets down more than 2%

Stocks sank on Monday with the Dow plunging nearly 800 points as investors feared a surge in COVID-19 cases caused by the Indian Delta variant could hold back the global economy.

The Dow Jones Industrial Average was down 786 points, or 2.2 percent, as of midday EST.

The S&P 500 was 1.5 percent lower in midday trading, after setting a record just a week earlier.

The Nasdaq composite was 0.9 percent lower.

In another sign of worry, the yield on the 10-year Treasury dropped close to its lowest level in five months. It touched 1.21 percent as investors scrambled for safer places to put their money.

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WNU Editor: It looks like the markets are factoring in the very real possibility that we are going to be facing another Covid wave in the coming months.

More News On Today's Wall Street Close

Dow sinks 2% as virus surge stifles recovery hopes -- Reuters

Dow tumbles 700 points for its worst drop since October as investors fear a Covid resurgence -- CNBC

Dow suffers biggest drop of the year as Delta variant fears hit Wall Street hard -- CNN

Wall Street ends sharply lower as Delta variant sparks new lockdown fears -- AP