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U.S. Stocks Drop With Worries Mounting Over Growth: Markets Wrap

  • Coronavirus concerns grow as Microsoft scraps reopening
  • Labor Department data showed 310,000 jobless claims last week
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'The Lady Isn’t Tapering,' ECB's Lagarde SaysSource: Bloomberg
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U.S. stocks fell in volatile trading as mixed economic data kept investors on edge about the timing of stimulus tapering even as the relentless spread of the Covid-19 delta variant undermines global growth.

The S&P 500 notched a fourth straight decline after erasing an intraday gain that had brought it to within 0.4% of its all-time high. The dollar weakened and 10-year U.S. Treasury yields declined. European equities fell, with the Stoxx 600 erasing the initial advance it saw after the European Central Bank said it will slow its emergency support but keep policy accommodative.