Covid Variant Fear Grips Wall Street; Dow Jones Has Biggest One-Day Point Drop Since October; Media & Tech Largely Spared – Update
The Dow Jones Industrial Average plunged 725.81 points, a bit more than 2%, slipping below 34,000 for the first time in nearly a month. It was the index’s worst day of 2021 and its biggest single-day point drop since last October. After the U.S. showed steady progress through the spring in its fight against the coronavirus pandemic, infection rates have spiked in much of the country. Vaccination rates, meanwhile, have leveled off, leaving many Americans vulnerable to the Delta variant. That combination has sparked worries of new lockdowns or other restrictions on commercial activity.