Markets

Here's what happened to the stock market on Monday

The "Fearless Girl" statue stands in front of the New York Stock Exchange (NYSE) at Wall Street on June 29, 2020 in New York City.
Angela Weiss | AFP | Getty Images

Dow Jones Industrial Average falls 509 points

Covid resurgence coming?

Concerns over another wave of coronavirus cases came as the U.K. reportedly considers another national lockdown to stop an increase in infections. Top U.K. government scientists said that, without further action, the country's infection rate could reach 50,000 per day. In Washington, negotiations for a new coronavirus stimulus bill could become more complicated after the passing of Supreme Court Justice Ruth Bader Ginsburg, which could lead to a bitter nomination process ahead of the election.

Cruise lines and airlines sell off

Shares of cruise operators CarnivalNorwegian Cruise Line and Royal Caribbean slid 7% apiece. Airline stocks were also under pressure. United Airlines closed lower by 8.6% and American Airlines dipped 7.4%. 

What happens next?

Existing home sales data and remarks from Federal Reserve Chairman Jerome Powell are on the agenda for Tuesday. 

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