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S&P 500 turns slightly higher after Fed statement - Netscape Money & Business
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S&P 500 turns slightly higher after Fed statement
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Wall Street ends sharply lower as Delta variant sparks new lockdown fears
By Stephen Culp
Reuters
NEW YORK (Reuters) - A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery.
All three major U.S. stock indexes ended the session sharply lower, with the S&P and the Nasdaq suffering their largest one-day percentage drop since mid-May.
The blue-chip Dow had its worst day in nearly nine months.
The risk-off sentiment also sent U.S. 10-year Treasury yields sliding, pulling rate sensitive banks stock prices with them. The S&P 500 Banks index dropped 3.3%.
2021/07/20 10:28 Trader Edward Curran, left, works on the floor of the New York Stock Exchange, Friday, July 16, 2021. Stocks are off to a slightly higher start on Wal. Trader Edward Curran, left, works on the floor of the New York Stock Exchange, Friday, July 16, 2021. Stocks are off to a slightly higher start on Wall Street Friday with an assist from several big technology companies. (AP Photo/Richard Drew) A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery. All three major U.S. stock indexes ended the session sharply lower, with the S&P and the Nasdaq suffering their largest one-day percentage drop since mid-May.
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