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Budget News

  • US stocks close lower as reopening plays lead decline
  • April 21,2021  10:51
  • The Dow Jones Industrial Average fell 256.33 points, or 0.8%, to finish at 33,821.30. The S&P 500 fell 28.32 points, or 0.7%, to close at 4,134.94. The Nasdaq Composite shed 128.50 points, or 0.9%, to end at 13,786.27.

    Reopening plays such as airlines and cruise line operators led losses on Tuesday. United Airlines plunged 8.5% after the carrier reported its fifth consecutive quarterly loss and said that business and international travel recovery is still far off. American Airlines fell 5.5%, while Carnival and Norwegian Cruise Line both slid over 4%.

    The sell-off in shares that are tied to a successful reopening came as the World Health Organization warned that global coronavirus infections were edging toward their highest level in the pandemic.

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