Investors seek safer havens while eyeing Delta’s economic impact

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  • U.S. retail sales drop in July
  • Home Depot, tech sector weighs on Wall Street
  • U.S. dollar gains on safe-haven appeal

WASHINGTON, Aug 17 (Reuters) – Major stock indexes slid and defensive investments posted gains amid fears about an uneven economic recovery in the United States and the continuing spread of the Delta coronavirus variant.

Wall Street slid sharply Tuesday, led by declines in mega-cap technology-related stocks and Home Depot

Safe-haven demand helped boost other risk-averse sectors, as the U.S. dollar gained on other currencies for the second straight session.

The Commerce Department reported Tuesday morning that U.S. retail sales fell by much more than expected by economists, injecting fresh concern into how the world’s largest economy will emerge from the pandemic as it grapples with supply chain disruptions and consumer concern over Delta’s spread. read more

After posting record highs last week, the Dow Jones Industrial Average (.DJI) fell…

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