BUSINESS

US Stocks Plunge on COVID Resurgence, Growth Worry; Key Indices Down About 2%

NEW YORK (Sputnik) – US stocks on Monday extended their selloff from last week, with key indices falling about 2 percent each, as a resurgence in COVID cases from the Delta variant of the virus and worries about global growth to a markets meltdown.

The Dow Jones Industrial Average, the broadest US equity barometer on the New York Stock Exchange, fell 726 points, or 2.1 percent, by 10:15 AM ET (14:15 GMT) to 33,962, extending last week’s slide of 0.5 percent.

The S&P 500 index, which groups the top 500 stocks on the New York Stock Exchange, fell 76 points, or 1.8 percent, to 4,250. The S&P500 lost 1.0 percent last week. The Nasdaq Composite, which includes high-flying tech stocks such as Facebook, Amazon, Apple, Microsoft, Netflix and Google, lost 235 points or 1.6 percent to hover at 14,192. Nasdaq lost 1.9 percent last week.

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