Title: S&P 500 Closes Lower as Volatility Returns Amid Growth Jitters
Jul 08, 2021 04:24PM ET
The S&P 500 closed lower Thursday, as concerns grew about the global healing at a time while the delta variant has induced a spike in infections, triggering a jolt of volatility that rattled investor sentiment.
The S&P 500 fell 0.8% to 4,321.81, but were as low as 4,289.17. The Dow Jones Industrial Average slipped 0.8%, or 259 points, and the NASDAQ emerge as down 0.7%. The S&P 500 VIX Futures - or so-referred to as fear index - jumped 17% to 19.00.
Fears over slowing growth were captured in the bond market, with the 10-12 months U.S. bond yield plunged to its lowest degree while you do not forget that February.
But some on Wall Street are not searching for the "pinnacle growth" jitters and argue that there is runway for the healing, paving the way for more earnings in stocks.
The spike in Covid-19 times due to the fact the delta variant continues to spread has moreover positioned a damper on international growth and threatens the summer season of travel, particularly in Europe.
The hard work market, meanwhile, continues to indicate a prolonged road to healing as initial jobless claims unexpectedly rose via 2,000 to 371,000 last week.