Wall Street has its worst day since May, as markets are jolted by the Delta variant.
Rita Nazareth and Vildana Hajric (Bloomberg) | Jul 19, 2021
Stocks slumped around the world as investors rushed into haven assets after the delta coronavirus variant cast a pall over the economic recovery, while tension between the U.S. and China escalated.
In a reversal of the reopening trade that has powered this year’s equity rally, cyclical companies bore the brunt of the rout on Monday. Commodity, financial and industrial shares led losses in the S&P 500, which fell the most in two months. The Dow Jones Industrial Average had its biggest decline since October, while small caps extended a slide from March’s peak to nearly 10%. After recently plunging to pre-pandemic levels, the Cboe Volatility Index, or VIX, soared.
Stocks sink as virus worries fuel flight to safety
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Stocks slump as virus jitters fuel rush into bonds
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Stocks slump as Covid-19 jitters fuel rush into bonds
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Stock selloff deepens, oil plunges after Delta casts pall over recovery
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