WATCH: Dow Jones Industrial Suffers Largest Single-Day Drop of 2021

By  //  July 19, 2021

Share on Facebook Share on Twitter Share on LinkedIn Share on Delicious Digg This Stumble This

Dow Jones Industrial Average fell 724 points

ABOVE VIDEO: Biden delivers remarks on economic recovery under his administration.

(FOX BUSINESS) – U.S. stock markets suffered among their steepest single-day declines of the year on Monday as the recent rise in COVID-19 infections stoked fears of an economic slowdown.

New COVID-19 infections jumped 70% last week to about 30,000 a day as the Delta variant continued to spread. Deaths rose to an average of 250 a day, mostly in unvaccinated people.

The Dow Jones Industrial Average fell 724 points, or 2.09% the worst session of 2021. While the S&P 500 and the Nasdaq Composite declined 1.58% and 1.06%, respectively, the worst drop since May.

Selling in the equity markets caused investors to seek safety in the U.S. Treasury market with the yield on the 10-year note falling 10 basis points to 1.18%, the lowest since March of 2020 as tracked by Dow Jones Market Data Group.

CLICK HERE TO READ FULL ARTICLE ON FOX BUSINESS