We’re midday through Thursday and it’s time for an update on the stock market, which isn’t doing so hot today.
The stock market is dipping lower across the board today. The S&P 500 is down close to 1%, the Dow Jones Industrial Average was also sliding slightly lower today, as well as the Nasdaq Composite losing some of its value.
So why is the stock market down today? There are a few reasons that investors are growing wary and it all has to do with recent market conditions and news.
Thursday Midday Update: Why the Market is Down
First off, Treasury yields have been taking a beating these last few days and slipping lower. That’s continuing today and the decline in unnerving investors hinging on hopes of increasing yields for 2021.
It’s not just slipping Treasury yields that have investors worried. Talk of the Delta variant of the coronavirus spreading is also scaring away investors. The virus is reportedly more contagious than the previous variant behind last year’s lockdowns. This is stoking flames of doubts in traders that were hoping for a quicker economic recovery than what we may see, Seeking Alpha notes.
Edward Park, chief investment officer at Brooks Macdonald, said the following about this to The Wall Street Journal.
“There is a bit of a recognition that things aren’t looking as economically positive as they were in mid-June when everything seemed to be hitting that Goldilocks middle ground .Delta, or the next Delta, will be a recurring risk in markets.”
The declining stock market comes as several companies’ shares are taking a beating today.
InvestorPlace has all the latest news concerning the falling stock market. That includes why railroad stocks are losing steam today, meme stocks retreating after weeks of rallying, and what else to expect from the market today. You can find all of that information, and more, by following the links below!
More Stock Market News for Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.