Dow and S&P 500 Close Lower for Four Consecutive Days... First Since June (Comprehensive)

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] On the New York Stock Exchange, the Dow Jones Industrial Average fell for the fourth consecutive day. The Nasdaq index also declined for the second consecutive day, reflecting concerns over the spread of the Delta variant weighing on the market.

On the 9th (local time), the Dow Jones Industrial Average closed down 151.69 points (0.43%) at 34,879.38, the S&P 500 index fell 20.79 points (0.46%) to 4,493.28, and the Nasdaq index dropped 38.38 points (0.25%) to 15,248.25.

The Dow fell for the fourth straight day, falling below the 35,000 level for the first time since June 19. The S&P 500 also declined for the fourth consecutive day. This marks the first time since mid-June that both the Dow and S&P 500 have fallen for four straight days.

Although the weekly initial jobless claims announced that day were the lowest since the COVID-19 outbreak at 310,000, it was not enough to prevent the stock price decline.

The U.S. 10-year Treasury yield fell by 0.043 percentage points to 1.297%.

Microsoft and Amazon each fell about 1%, leading the declines in the S&P 500 and Nasdaq indices.

Shares of U.S. airlines such as United and American Airlines all showed strength. Analysts attribute the rise in airline stocks to expectations that the drop in air travel demand in August will be temporary.

Meme stock GameStop plunged more than 10% despite better-than-expected earnings but ended the day up 0.19% as retail investors rushed to buy.

Yoga apparel specialist Lululemon's stock soared 10% on an earnings surprise. Boston Beer Company, the brewer associated with Samuel Jackson, fell 3.8% due to lowered earnings forecasts.

Moderna surged 7.8% following its announcement of developing a vaccine that can simultaneously prevent COVID-19 and influenza.

This content was produced with the assistance of AI translation services.