ZOM - Midday Market Update: Why Are Stocks Down Today?
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Good afternoon! We’re checking back in on the general state of stocks with a midday market update concerning why shares are down today.
But before we jump in on that, consider taking a quick look at some of our other stock coverage from this morning. That includes the biggest pre-market stock movers, as well as what to expect from the stock market today. Both of those can provide extra context to help better understand this midday market update.
Now let’s jump right into why stocks are down today.
It’s starting to sound like a tale as old as time, but fears connected to the novel coronavirus pandemic are likely pushing many shares lower today. Specifically, investors are worried that the spreading delta variant is going to result in more lockdowns and restrictions that could harm many businesses.
Ironically, the biggest delta coronavirus story of late comes from Delta (NYSE:DAL). The airline is adding extra restrictions on unvaccinated employees. That includes weekly testing and mask mandates, as well as a $200 surcharge fee on top of healthcare expenses.
There’s no doubt that everyone wants the coronavirus pandemic to be a thing of the past, but that’s not likely to happen anytime soon. Experts claim that we’re not likely to see an end to the pandemic until sometime in 2023. That’s not something anyone wants to hear, especially not investors.
Traders can expect coronavirus fears to continue to pressure the stock market as other issues, such as inflation and cybersecurity worries tag along to make matters worse.
Of course, this doesn’t mean all stocks are falling today.
Quite a few companies are seeing their shares rise for various reasons on Thursday. A few examples include Blue Water Acquisition (NASDAQ:BLUW) stock jumping on short-squeeze rumors, Lordstown Motors (NASDAQ:RIDE) running higher on CEO news, as well as Zomedica (NYSEAMERICAN:ZOM) stock catching the eye of meme traders. You can learn all about these subjects at the links below!
More Thursday Stock Market News
- BLUW Stock: 11 Things to Know About Blue Water SPAC Amid Short-Squeeze Rumors
- RIDE Stock: What Has Lordstown Motors Racing Higher Today?
- ZOM Stock: What Investors Are Saying About Meme Stock Favorite Zomedica as Shares Fly
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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