US STOCKS-Dow, S&P 500 sink 2% as virus surge stifles recovery hopes
The Dow and the S&P 500 indexes sank more than 2% on Monday as investors sold off economically sensitive shares and travel stocks and sought the perceived safety of bonds on fears that a spike in COVID-19 cases would derail a broader economic recovery. New infections surged in parts of Asia and England, while U.S. COVID-19 cases soared 70% last week, fueled by the Delta variant. The benchmark S&P 500 snapped a three-week winning streak on Friday, with only defensive sectors, perceived to be relatively safe during times of economic uncertainty, posting small gains.
Published:7/19/2021 1:19:03 PM