Media, Tech Stocks Slide as Investors Fear COVID Resurgence
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variety.comTodd Spangler NY Digital EditorFinancial markets took a hit Monday amid fears that the Delta variant of the COVID-19 virus would delay reopening plans and put a damper on economic recovery.The Dow Jones Industrial Average index closed down 2.1%, off 724.56 points to 33,963.29 — the biggest one-day drop for the Dow since last October.
The S&P 500 also fell, declining 1.6% for the day, while the tech-focused Nasdaq slipped 1.06%.Click here to sign up for Variety’s Media Earnings newsletter.Big media companies were pulled down in the selloff, including Disney (-3.75%), ViacomCBS (-1.7%), AT&T (-2.08%), Comcast (-1.89%), Lionsgate (-5.12%) and Discovery (-1.93%).Also declining were Apple (-2.96%), Amazon (-1.04%), Facebook (-1.46%) and Google.
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