DOW sinks over 900 points amid concerns over rising COVID cases, delta variant

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The Dow Jones Industrial Average on Monday dropped as many as 900 points amid concerns over more COVID-19 cases and the emergence of the highly transmissible delta strain.

With about an hour before closing, the stock average was down about 811 points, falling short of the biggest recent drop –943 points on Oct. 28, 2020. The index was 930 points in the early afternoon.

Monday’s drop was about 2.7% of the index.

The Dow dropped over 1,000 points at least six times in 2020. Five of which were in March 2020.

The most significant drop occurred March 16, 2020, when the Dow dropped nearly 3,000 points, roughly 13% of its value.

Also on midday Monday, the S&P 500 fell 2.1%, and the Nasdaq fell 1.6%, according to CNN.

Still, the Dow is up more than 10% overall this year and just 3% below its all-time peak. The S&P 500 surged 13% this year and is 3% off its record high.

By Misty Severi

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