7/19, 10:41 AM (Source: TeleTrader)
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Dow sinks over 200 pts premarket on inflation, virus fears

Shares on Wall Street traded with losses during the premarket session on Monday with the Dow Jones Industrial Average dropping over 200 points amid inflation fears and rising coronavirus infection rates worldwide.

The highly contagious Delta variant of COVID-19 sparked concerns over a fourth wave of the deadly pandemic despite continued vaccination efforts. Over the weekend, Israel said the Pfizer/BioNTech COVID-19 vaccine appears to be providing much less protection against the Delta variant than had been expected. Meanwhile, rising inflation weighed on stocks as Federal Reserve Chairman Jerome Powell said policymakers aren't "comfortable" with current price levels.

The Dow was down 235 at 4:30 am ET. At the same time, the S&P 500 fell 0.45% while the Nasdaq 100 declined 0.14%. The euro was down 0.26% against the dollar at 4:40 am ET, buying 1.17743.

Breaking the News / JC