TELETRADER News
7/19, 10:03 PM (Source: TeleTrader)
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Dow down by over 700 pts at close on COVID fears

Major stock markets in the United States closed lower on Monday amid public concerns about another wave of the COVID-19 pandemic. President Joe Biden talked about the virus's effect on the economy and noted a rise in prices was expected. He also urged Facebook Inc. to take appropriate steps against the spread of misinformation on COVID-19 on its platforms. Meanwhile, the White House threatened China with a strong reaction to the hacking attacks allegedly coming from that country.

The Dow Jones Industrial Average dropped by 2.06%, or by 716 points, at the close as the Boeing Company declined by 4.94%. The Nasdaq 100 went down by 0.90%, with Match Group Inc. plunging by 4.86%. The S&P 500 sank by 1.56% as Kimco Realty Corporation plummeted by 7.34%.

The euro lost 0.07% to the dollar to sell for $1.17964 at 3:57 pm ET.

Breaking the News / JR