- July 7, 2021
- Posted by: Stratford Team
- Category: Business
If you’re feeling a little sluggish today after the long weekend, you’re not alone. Wall Street spent last week partying, notching back-to-back records. But today, it seemed like traders stumbled into work in sunglasses, chugging black coffee as they tried to stay awake at their Bloomberg terminals.
The Dow tumbled 209 points Tuesday, after ending last week at an all-time high. The S&P 500, fresh off its seven-record closing streak, fell 0.2%.
It wasn’t clear what sparked the selloff, but a few factors may have played a role:
- Oil market chaos: Oil prices soared and then retreated Tuesday after OPEC countries failed to reach a deal on production increases. That’s left investors scratching their heads over what comes next.
- Summer slump: Even bankers go on vacay, and when trading volume is low, that can exacerbate volatility.
Stocks to watch:
- AMC popped 5% in early trading Tuesday after the company announced it’s ditching…