MSCI's All-Country World Index, which tracks stocks across 49 countries, was down 0.5% after earlier hitting a record. The Dow Jones Industrial Average fell 382.59 points, or 1.25%, to 30,223.89, the S&P 500 lost 55.42 points, or 1.48%, to 3,700.65 and the Nasdaq Composite dropped 189.84 points, or 1.47%, to 12,698.45. The pan-European STOXX 600 index rose 0.67%, while Britain's FTSE 100 index closed up 1.7% on its first post-Brexit trading day.
NEW YORK: U.S. stocks dropped more than 1% on Monday, pulling back from record highs in the first trading day of the new year as coronavirus cases surged, while the U.S. dollar edged up and gold rallied.
Stocks hit record highs early in the New York session as investors focused on the rollout of COVID-19 vaccines. But sentiment quickly turned cautious over the path of the virus, which continues to spread amid the discovery of a new variant.
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