COVID-19 has struck the global stock market big time, this time the new variant and coronavirus surge has struck Wall Street’s main index. The DOW points took a deep dive and fell over 1% on Monday, with economically sensitive and travel stocks leading declines, as a spike in global COVID-19 cases raised fresh concerns about slowing economic growth.
The cause according to stock market experts are the new infections surge of the disease in parts of Asia and England. The U.S. COVID-19 cases reportedly soared 70% last week, fueled by the Delta variant.
DOW Plus other Global Stock Market Update on Monday
- #Dow falls 1.4%
- #NASDAQ falls 1.5%
- S&P 500 falls 1.4%
What struck the market and DOW is probably the news of reopening concerns triggered by new cases at the Olympic village ahead of the opening ceremony, and new restrictions imposed on travel to France by the U.K., which separately reduced its coronavirus rules for England.
Rising Covid-19 Infections cause US stock market collapse on Monday
here are some reactions on twitter
All 11 S&P sectors fell in early trading, with the so-called value stocks including financial, industrial, materials and energy dropping between 1.8% and 3.7%.
The banking sub-index sank 3.3%, tracking a fall in the benchmark 10-year Treasury yield to mid-February lows.
