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Stocks skid as investors fear virus surge will dent recovery

Stocks skidded on Wall Street and investors sought refuge in government bonds amid worries that a surge in virus infections around the world will threaten the economic recovery.

Posted: Jul 19, 2021 1:27 PM
Updated: Jul 19, 2021 3:19 PM

NEW YORK (AP) - Stocks skidded on Wall Street and investors sought refuge in government bonds amid worries that a surge in virus infections around the world will threaten the economic recovery.

The S&P 500 lost 1.6% Monday and the Dow Jones Industrial Average gave up 725 points, or 2.1%.

Market watchers had been warning that stock valuations were getting stretched with indexes hitting record highs as recently as last week.

Treasury yields sank further as investors scrambled to move into assets seen as safer.

Airlines, hotels and other companies seen as most at threat from pandemic restrictions had some of the biggest losses

Chico
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Oroville
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Paradise
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Chester
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Red Bluff
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Willows
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A significant weather system will impact our area beginning late tonight, lasting through the day on Monday. This includes a large amount of snow for the mountains, with rain and wind for the valley and foothills. A steady rain will begin to move into our area around 1am Sunday.
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