US stocks close lower, Dow Jones drops over 700 points

US stock indices closed lower on Monday, amid renewed coronavirus concerns.

The World Health Organization stated that coronavirus infections have increased in the USs, Europe and Asia due to the new Delta strain, which has renewed fears of the pandemic spreading out of control.

The US government revealed that the average infection during the past seven days until Friday was about 30,000 cases, which is higher than June's average of 8,000 cases.

Tp the oil market, WTI crude August futures fell 7.5% or $5.39, and closed at $66.42 a barrel, after hitting a high of $71.6 and a low of $65.8.

Brent September futures fell 6.7% or $4.97, and closed at $68.62 a barrel, after hitting a high of $73.3 and a low of $68.1.

As for stocks, Dow Jones fell 2.1% or 725 points, and closed at 33,962, with a day high of 34,528, and a low of 33,741.

S&P 500 fell 1.6% or 68 points to 4,258, after hitting a high of 4,296 and a low of 4,233 points.

Nasdaq fell 1.1% or 152 points to 14,274, with a high of 14,313 and a low of 14,178.