- The Nasdaq closed 1.06% lower at 14,275 on Monday.
- Zoom acquired Five9 for US$14.7bn causing investor sell-off.
- American Airlines shares tumbled on COVID-19 Delta strain fears.
The US markets started the week lower as investors fear the increasing spread of the Delta COVID-19 strain will impact the rate of global economic recovery.
The Dow Jones fell 2.09% to finish the trading day down 726 points to close at 33,962 points .
The tech heavy NASDAQ fell 1.06% to finish the trading day down 152 points to close at 14,275 points
One bitcoin is worth US$30,889 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 73.38 US cents.
Pandemic winner Zoom took a hit on Monday as investors sold-off the video calling company?s shares following the announcement of its latest acquisition. On Sunday Zoom announced it had acquired cloud-based contact centre software developer Five9 in a transaction worth US$14.7bn, which investors? appear disappointed with.
American Airlines shares plunged 4.14% on Monday as investor fears of a COVID-19 resurgence caused a travel stock sell off. United Airlines tumbled 5.5% while Southwest fell nearly 3%.
And Snap has acquired Vertebrae in its latest move to incorporate AI shopping into its app. Vertebrae allows brands to create and manage 3D versions of their products with aims of linking it to direct purchasing through the Snapchat app in future.