Global stock markets swooned Monday, with the Dow slumping more than 500 points at the open, as investors grow increasingly anxious about a delta-led

Cent

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Global stock markets swooned Monday, with the Dow slumping more than 500 points at the open, as investors grow increasingly anxious about a delta-led resurgence in coronavirus cases and the threat it poses to economic growth. Oil prices also fell sharply.



The delta variant has become the dominant strain worldwide and is surging rapidly, even in countries with high vaccination rates. Positive cases are trickling steadily out of the Olympic Village ahead of the Games kickoff later this week. Many are fearful the uptick will lead to a resumption in travel and business restrictions.


Asian markets closed in the red across the board, with Hong Kong’s Hang Seng Index leading the losses with a more than 1.8 percent drop. European markets posted even steeper declines, with Germany’s DAX and France’s CAC40 both tumbling 3 percent and the Stoxx 600 off more than 2.6 percent.

By 10:20 a.m., the Dow Jones industrial average had fallen more than 800 points, or 2.3 percent, to 33,887. The Standard & Poor’s 500 index had fallen 1.8 percent to 4,246 and the tech-heavy Nasdaq had fallen 1.5 percent to 14,205.

Companies whose fates are tethered to the recovery were hit hard in early trading, with Carnival Cruises, American Airlines and United Airlines all sliding more than 7 percent.

“The big concern for the market is whether we going to see a slowdown in the global economic recovery,” Russ Mould, investment director at AJ Bell, wrote in commentary Monday. “This could be the overriding force which results in a bad period for equities in the weeks ahead.”

The market jitters and growing cases counts echo the earlier days of the pandemic, when stocks whipsawed with record volatility as investors struggled to get their arms around the breadth of the pandemic’s impact on the global economy.

Investors flocked to safe havens, pushing the yield on the 10-year U.S. Treasury note down to 1.229 percent, its lowest level since February. Bond yields fall as prices rise.

Oil prices also tanked. Over the weekend, OPEC and its allies agreed to ramp up production despite the uncertainty with the delta variant, saying that oil demand is showing “clear signs of improvement” in a statement Sunday. Brent crude, the international oil benchmark, shed more than 4.7 percent to trade at $70.10 per barrel. West Texas intermediate crude, the U.S. oil benchmark, declined more than 5 percent to $68.09.

Markets had been a on a record-breaking run after cratering in the early days of the pandemic. Despite today’s sell-off, the Dow remains up nearly 27 percent for the year, according to Marketwatch.
 
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"Global stock markets swooned Monday..."
Markets had been a on a record-breaking run after cratering in the early days of the pandemic. Despite today’s sell-off, the Dow remains up nearly 27 percent for the year, according to Marketwatch.

The final two sentences of the posted article should provide a little perspective.

Money in a savings account may provide you with an annual return 0.25% if one is lucky.

(Yup...headlines keep selling the fear.)
 
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The final two sentences of the posted article should provide a little perspective.

Money in a savings account may provide you with an annual return 0.25% if one is lucky.

(Yup...headlines keep selling the fear.)
New COVID variants have public health experts concerned. Other than the delta variant that's accounting for many of the new infection rates, there's also a new one that was first discovered in Brazil, which has made its way to the U.S., including New York.

Apparently the Iota, Epsilon, Kappa, Zeta, Eta, Gamma variants are all more contagious and more resistant to current vaccines. Every third world country will become breeding grounds of new variants, wave after wave after wave.
America had a cheerleader for president who's concern for the stock market was paramount.

I don't see the headlines selling fear as long as they are truthful.
 
Okay George. Ask the next generation what is really important to them.
How are they and their future being impacted ?

Maybe lowering the number of people on social security and Medicare makes sense to some...(although I'm a tad facetious here).

Seriously the "Western World" came up with the vaccines ...but forgot about vaccinating the other 3 Billion people on Earth...howzat for a HEADLINE!

Back to the OP - truthful headline - or selling the fear ?
Most retired folks rely on social or company pensions and barely dabble in equities. That is whom these headlines are fully geared to.
No worries - if I didn't bail in 2008 or most recently following the 30% drop March 2020 I'm sure not bailing out of the equity markets over 2.5%, 5% or 20%.

But assuredly - you should be worried /(or should feel blessed) living in Thailand. Where is that story ?
 
Okay George. Ask the next generation what is really important to them.
How are they and their future being impacted ?

Maybe lowering the number of people on social security and Medicare makes sense to some...(although I'm a tad facetious here).

Seriously the "Western World" came up with the vaccines ...but forgot about vaccinating the other 3 Billion people on Earth...howzat for a HEADLINE!

Back to the OP - truthful headline - or selling the fear ?
Most retired folks rely on social or company pensions and barely dabble in equities. That is whom these headlines are fully geared to.
No worries - if I didn't bail in 2008 or most recently following the 30% drop March 2020 I'm sure not bailing out of the equity markets over 2.5%, 5% or 20%.

But assuredly - you should be worried /(or should feel blessed) living in Thailand. Where is that story ?
I'd say the point of the article was showing that the Delta variant spread is affecting the stock markets. Not talking really about how they have gone down, but not all the way down to wipe out the year's previous gains.

"Markets had been a on a record-breaking run after cratering in the early days of the pandemic. Despite today’s sell-off, the Dow remains up nearly 27 percent for the year, according to Marketwatch."

Which is besides the point of the article. An aside. The market 'swooned' due to the spread of the Delta variant covid. So some have moved their monies into other areas. Just reporting the facts. Not a scare. Truthful headline. What are you going on about? LOL
 
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Global stock markets swooned Monday, with the Dow slumping more than 500 points at the open, as investors grow increasingly anxious about a delta-led

Read that article headline.
Sure there are increasing Covid case numbers that worry 'investors' and 'markets'...but it's the spin of the article.

How about the whole story...
- U.S. Red Hot Economy Expected To Cool
- U.S. Retail Sales Rose In June Pushing Inflation Fears
- Federal Reserve Anxious About Inflation
- Fed Reserve Powell States He Won't Hesitate To Raise Intetest Rates To Control Inflation
- Businesses See Above-Average Price Increases
- Federally Funded Programs Scheduled To Expire In September
- Tax Increase Talks Push Wealthy Investors From Stocks to Bonds

The whole truth not just the "Covid" fear-mongering. JIMHO
 
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The equities markets find their own level according to the dabbler and the players.

As Cent showed above the market remains 27% up on the year. Astonishing growth at a time of considerable uncertainty for world economics - astonishing that is unless the major players had decided that their stocks had grown sufficiently in value for them to take a very healthy profit, and (on the basis of subsequent oversupply causing prices to fall) then buy back at the new low rate in order to start the cycle again.
 
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