Dow Jones Loses Over 200 Points

Monday morning opened with the Dow dipping about 225 points. This comes about after the Dow Jones and S&P 500 both reached record closes on Friday. The loss is attributed to a lag in Chinese economic growth. In July, the country’s retail sales grew by 8.5%, but a Reuters economist poll forecasted an 11.5% increase. Online sales and industrial production both fell short of projections too. The long-term impact of Covid, the rise of the Delta variant, and domestic flooding are all factors that push against the progress of China’s economic growth.