U.S. stock markets were under pressure Monday as the recent rise in COVID-19 infections has 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 over 700 points, or 2.2%, while the S&P 500 and the Nasdaq Composite declined 1.87% and 1.65%, respectively. The major averages on Friday suffered their biggest single-day declines in a month.