The Dow dragged Wall Street's main indexes lower on Friday, with travel, bank and commodity-linked stocks bearing the brunt of a selloff triggered by the discovery of a new and possibly vaccine-resistant coronavirus variant.
Cruise operators Carnival Corp, Royal Caribbean Cruises and Norwegian Cruise Line plunged more than 9% each, while shares in United Airlines, Delta Air Lines and American Airlines slumped almost 10%.
Ten of the 11 major S&P sectors dropped in early trading, with energy sliding 6.3% followed by financials and industrials. The domestically focused Russell 2000 small-cap index tumbled 3.6%, hitting its lowest level in over four weeks. The S&P 500 banks index dived 5.1% as investors pared back bets of faster U.S. interest rate hikes.
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