Dow slumps 500 points, on pace for worst month-to-month decline as stock market hit by concerns over delta variant of COVID

Equity benchmarks fell sharply on Monday, with concerns about the global spread of the delta strain of the coronavirus leaving COVID-19 with much of the blame as investors prepared for another big week of corporate earnings. The Dow Jones Industrial Average DJIA,
-1.93%
traded 526 points, or 1.4%, lower at 24,192; the S&P 500 index SPX,
-1.66%
traded 1.2% lower at 4,276, as the Nasdaq Composite Index COMP,
-1.54%
fell by 1.1% to 14,261. In company news, Bill Ackman’s Pershing Square Tontine Holdings PSTH,
-1.79%
said Monday it was abandoning a deal to buy a 10% stake in Universal Music Group, citing concerns from regulators and shareholders.

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