Dow suffers biggest drop of the year as Delta variant fears hit the stock market hard

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 points six times last year, with five of those market meltdowns taking place in March at the start of the pandemic in America. The Dow suffered its biggest point slide ever on March 16, 2020, dropping nearly 3,000 points — a 13% freefall.

Investors feared that the Delta coronavirus variant could threaten the US economic recovery. Shares of companies in sectors that were widely thought to benefit most from the reopening of the economy are getting hit the hardest.

Airlines American (AAL), United (UAL) and Delta (DAL) were all down aronud 4% to…

Read more…