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US stock market falls on Delta outbreak concerns

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

US stock markets are set to push global equities down this week with the Dow Jones falling 700 points or 2.1% in Monday’s session, pushed lower by concerns that the Delta variant outbreak will put a secondary brake on the economy.

Analysts are also wary of ‘peak everything’, a concept that suggests economic growth, inflation and earnings have already peaked.

The Nasdaq and S&P 500 fared slightly better with quality big tech and healthcare back in fashion, down 1.6% and 1.1,% respectively.

The likes of Moderna (NASDAQ: MRNA), NVIDIA (NASDAQ: NVDA) and DocuSign (NASDAQ: DOCU) all stay at home winners topped the market, adding 9%, 3% and 2% to lead the market.

The oil price also suffered its biggest daily percentage drop in months, falling over 7% as OPEC+ came to terms on a deal to increase supply, which is set to push the likes of Woodside Petroleum Limited (ASX: WPL) lower today.

Finally, the US and EU governments singled out China as the source of recent cyber attacks on Microsoft (NASDAQ: MSFT), increasing geopolitical risk with the country.

US stock market movers

Here’s how other popular US stocks started the week in Monday’s session.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow US markets lower at the open on Tuesday. For all the latest, check our Rask Media’s ASX 200 morning report.

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In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

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Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Disclosure: At the time of publishing, Drew owns shares in Disney.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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