Dow tumbles nearly 100 points after late-day sell-off in stocks
U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.
The Dow Jones Industrial Average fell 97.31 points, or 0.28%, to 34,831.16 and the S&P 500 slipped 0.18% to 4,387.16 with most of the losses coming in the final hour of trading. The Nasdaq Composite clung to a gain of just 0.06% to close at 14,681.07. The Dow touched a new intraday record before losing steam.
Monday’s weak performance for stocks came as Treasury yields and oil prices dipped, signaling that some investors may be concerned about economic growth even as earnings results show strength.
Charts suggest S&P 500 may struggle in August while gold looks set to rally, Cramer says
Reference: CNBC
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