Delta variant drops DOW 700 points
The DOW Jones Industrial Average fell more than 700 points, making Monday its worst session since October.
ROCKFORD, Ill. (WIFR) -Rising concerns about the delta variant of the coronavirus instills fear in investors on wall street.
The DOW dropped more than 700 points, making Monday its worst session since October. According to financial experts, investors are wary and are looking for safer places to put their money, but the major dip is nothing new for the stock market.
“The market has been aware of market sensitivity to supply chain disruption, and also just the failure of manufacturers to be able to keep up with what’s going on,” said Mainstreet Financial President and CEO Herbert F. Allen III.
Allen said the ups and downs of the market are always part of the risks, and the current sensitive stock market makes it even more volatile. Investors worry as the delta variant spreads it could mean more business shut-downs around the world. Allen advises people to hold off making any big changes to their portfolio.
While stockholders may be hesitant to invest, doctors said you shouldn’t be hesitant to get the COVID vaccine, which is key to pandemic recovery.
“We could stop this in its tracks if everybody got vaccinated. It would be a non issue. You have to ask that to the people that do not want to get vaccinated for whatever reason if they are willing to sacrifice that possibility,” said SwedishAmerian Surgeon Dr. James Cole.
Dr. Cole said the delta variant spreads quicker than other variants.. but the vaccine will help stop transmission.
“If we can get 80% of this population, vaccinated. Okay, we will have a true chief herd immunity, and it will be extremely unlikely that COVID will be an issue in this community or anywhere else in the United States.”
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