The Dow Jones Industrial Average DJIA, -0.75% fell 0.9%, or over 300 points, to trade at around 34,423, the S&P 500 index SPX, -0.73% was down 1.2% at 4,137, while the Nasdaq Composite Index COMP, -0.74% declined 1.6% to 13,185. The market's recent selloff has been mostly concentrated in tech and growth stocks as investors shift out of highflying investments and buy assets that are viewed as performing better during the expected economic improvement from the COVID pandemic.
late Monday said revenue climbed in the latest quarter as the company saw positive results from its COVID-19 vaccine trials in the U.K. and South Africa. Shares were down 20%.
In light of the speculative euphoria investors have enjoyed since the start of the year, a selloff isn't a surprising event.
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