7/19, 2:06 PM (Source: TeleTrader)
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Dow Jones plunges nearly 500 pts in premarket

Losses accelerated on Wall Street during late premarket trading on Monday as concerns over rising inflation and the spread of the Delta variant pushed the Dow Jones nearly 500 points into negative territory ahead of today's open.

The rapid spread of the contagious strain of the coronavirus impacted stocks directly affected by restrictions the most, including airline and cruise shares. Meanwhile, Treasury yields moved lower while oil prices tumbled following the latest update from the oil-producing alliance known as OPEC+.

The Dow Jones sank 475 points at 8:05 am ET, while the S&P 500 dropped 1%. At the same time, the Nasdaq 100 was down 0.85%.

Breaking the News / JC