The Dow and the S&P 500 slipped from record highs on Monday as glum data from China sparked fears of slowing global growth and hurt shares of sectors that are closely linked to the health of the U.S. economy. The data showed that retail sales, industrial production and urban investment in China all missed forecasts, pointing to the impact of the fast-spreading Delta variant of the coronavirus and knocking down prices of oil and other commodities. ET, the Dow Jones Industrial Average was down 264.26 points, or 0.74%, at 35,251.12, the S&P 500 was down 26.38 points, or 0.59%, at 4,441.62, and the Nasdaq Composite was down 117.42 points, or 0.79%, at 14,705.47. The S&P 500 value index, which houses stocks that stand to benefit the most from an economic rebound, and its tech-heavy growth counterpart have gained 1.1% each so far in August. The S&P index recorded 30 new 52-week highs and one new low, while the Nasdaq recorded 27 new highs and 142 new lows.

Source: Mint August 16, 2021 16:30 UTC