Stocks Slide as Covid Fears Rise. Retail Sales Miss Estimates.

The Delta strain continues to disrupt both global demand and supply chains. Meanwhile, a decline in retail sales raised concerns that the U.S. consumer may be starting to retrench.

martedì 17 agosto 2021 New tab

668 words~3 min read

U.S. retail sales fell 1.1% month over month for July, worse than the estimated 0.3% drop.

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Stocks were lower on Tuesday, as concerns about the Covid-19 Delta variant continue to rise. A disappointing U.S. retail sales result didn’t help markets either.

By noon, the Dow Jones Industrial Average dropped 354 points, or 1%, while the S&P 500 fell 1% and the Nasdaq Composite declined 1.3%.