image courtesy of Getty Images On Monday, stock markets in the United Kingdom, Europe, and the United States all fell strongly on fears that an increase in Covid cases would stymie economic recovery. The FTSE 100 index in London sank 2.6 percent to below 7,000 points, led by ITV and IAG, the owner of British Airways. The Dow Jones Industrial Average in New York lost more than 2%, while major stock indices in France and Germany also declined. On Monday, the majority of the remaining Covid restrictions in England were eliminated. However, the Delta version of the virus is causing new instances to emerge in several nations. While staff are compelled to self-isolate after being informed by the NHS Covid-19 app, firms in the UK have highlighted how they are limiting opening hours, closing shops, or may having to curtail production. “The main question for the market is whether the global economic recovery will slow down,” said Russ Mould, investment director at AJ Bell. ITV’s stock dropped 6% on fears that slower economic growth would lead to fewer advertising spending. WPP, the advertising behemoth, saw its stock price plummet as well. IAG’s stock was the greatest loser among travel, aviation, and vacation-related stocks, with EasyJet and Carnival Cruise Lines also losing ground. “Optimism that had been on the horizon just a few weeks ago has once again been overshadowed by black clouds, especially with the hasty decision to impose a 10-day quarantine for newcomers from France,” said Susannah Streeter, Hargreaves Lansdown’s senior investing and markets analyst. “With some scientists predicting that infection rates might exceed 200,000 per day by September,” she continued, “there is now a feeling that the UK could be facing a new fall lockdown.” The pound declined against the dollar as well, falling 0.45% to $1.371. “Despite improving vaccination rates, a return to pre-[Covid] normalcy is speculative,” said Ulrich Leuchtmann, Commerzbank’s head of international exchange and commodity research. FTSE 100 is a stock market index that measures the performance of The Dow Jones Industrial Average is a stock market index that measures how well Pandemic of Coronavirus Stock exchanges/n
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