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Brian Levitt, Global Market Strategist at Invesco, says the market is "recalibrating for a weaker economic backdrop." Investors are getting spooked by the rising numbers of COVID-19 cases as the delta variant spreads across the globe. The Dow fell about 725 points Monday, a drop of 2.1%. The S&P 500 ended the day down 1.6% and the Nasdaq was 1.1% lower. This was the worst day for the Dow since a 943-point drop in late October, and it was the biggest decline this year. But the blue chip market barometer has had several even bigger point plunges since the start of 2020 due to concerns about the...

By Jessica DiNapoli NEW YORK (Reuters) -Stocks on Wall Street fell as much as 2% on Monday, with the Dow posting its worst day in nine months, as a rise in worldwide coronavirus cases and increasing U.S. deaths drove investors out of risky assets, crushing bond yields and share prices. Oil prices plunged more than 6%, driven down both by worries about future demand and by an OPEC+ agreement to increase supply. U.S. Treasury bond yields tumbled to five-month lows, with the yield on benchmark 10-year notes sinking 12.2 basis points to 1.177%, close to the session's low of 1.176%, a level la...

New Covid cases are rebounding in the U.S. as the delta variant spreads, largely among the unvaccinated. The U.S. is averaging about 26,000 daily cases in the last seven days, more than double the average from a month ago, according to CDC data.  Shares that are directly tied to a successful reopening, such as airlines and cruise line operators, bore the brunt of the sell-off. Carnival and Norwegian Cruise Line dropped more than 5% each, while Royal Caribbean fell 4%. Shares of United Airlines dropped 5.5%. Classic cyclical sectors energy and financials were the biggest losers, fall...

by Paul R. La Monica, CNN Business — July 19, 2021 . Investors are getting spooked by the rising numbers of Covid-19 cases as the Delta variant spreads across the globe. The Dow fell about 725 points Monday, a drop of 2.1%. The S&P 500 ended the day down 1.6% and the Nasdaq was 1.1% lower. This was the worst day for the Dow since a 943-point drop in late October, and it was the biggest decline this year. But the blue chip market barometer has had several even bigger point plunges since the start of 2020 due to concerns about the Covid-19 pandemic. The Dow plummeted more than 1,000 p...

World stocks face losing streaks as investors avoid risk Oil prices headed for worst day since March after OPEC+ agreed to boost output Reuters July 20, 2021 In the past two months, the federal cabinet has exempted taxes on $5.5b worth of foreign borrowings, including $2.5b Euro-bonds. PHOTO: FILE NEW YORK: Investors moved away from risky assets on Monday as a rise in worldwide coronavirus cases crushed bond yields and left stocks facing losing streaks, with Wall Street falling more than 1%. New Covid-19 cases rose in England and Asia, with US infections soaring 70% last week, dampening opt...