Panic-like sales emerge early Monday as Dow slides 2% lower, eyes sharpest sell-off in 2 months

Trading in the New York Stock Exchange-listed stocks on Monday showed panicky selling behavior as global equities faced a sharp sell-off attributed to increasing cases of COVID-19 fueled by the delta variant of the deadly disease. The NYSE Arms Index, a volume-weighted breadth measure that tracks the ratio of rising stocks to falling stocks versus the ratio of volume rising to falling, showed a value of 2.172 for NYSE-listed stocks. Many techs say an increase to at least 2,000 indicates panicked selling behavior. The reading even comes as the Dow Jones Industrial Average DJIA,
-2.28%
fell 2% at 34,018, looking at the sharpest one-day decline since May 12; the S&P 500 index SPX,
-1.93%
was 1.8% lower at 4,251 and the Nasdaq Composite Index [: COMP] traded 1.7% lower at 14,185.

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