Unease persists that coronavirus and inflation will disrupt the recovery
Oil fell below $70 on OPEC+ deal
Dollar strength sees gold slide
US futures contracts on the , , and and stocks in Europe retreated Monday on concerns that the global economic recovery will fizzle out due to a resurgence of coronavirus via the fast-moving and highly contagious Delta variant, along with increased inflation. This anxiety weighed on markets during Friday’s trade and persisted over the weekend. That may be a sign that this view is beginning to gain traction.
Oil fell after an OPEC+ breakthrough deal to increase supply; the dollar accelerated.
Global Financial Affairs
All four US futures were in the red, with those on the Russell 2000 1.8% deep, while NASDAQ contracts were outperforming, down just 0.6%.
Since the small cap index is the focal point of stocks likely to benefit the most from a return to a normal economy, and technology firms see...read more...