AFRM - Rare Stock Sell-Off As Delta Variant Weighs On Economy: What Moved Markets This Week (Video)

Watch the video, this week with special guest Paul Baiocchi, Senior Distribution Support Analyst at SS&C ALPS Advisors. Stocks sold off for the first time in weeks as concerns over the Delta variant weighed on the economy. At the time of this writing (3pm EDT on Friday) Dow Industrials (DJI) were down 2% week-over week, with the S&P 500 (SPY) and Nasdaq (COMP.IND) off about 1.6%. The S&P is on track for its worst week since June. Morgan Stanley (MS) downgraded U.S. equities to underweight due in part to the Delta variant and weak seasonality. Winners & Losers Supply constraints affected stocks as concerns that the Biden administration's Covid testing and vaccination protocols could overwhelm manufacturers. PulteGroup (PHM) was down more than 10% after providing guidance around shortages of building products. Small caps had a bad week as the iShares Russell 2000 ETF (IWM) was down 2.3%. Bitcoin (BTC-USD) fell

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Rare Stock Sell-Off As Delta Variant Weighs On Economy: What Moved Markets This Week (Video)