Markets fall as US COVID-19 cases hit record high

Markets fell on Monday.

The S&P 500 fell 0.2 percent, the STOXX Europe 600 fell 0.3 percent and the Nikkei 225 fell 0.8 percent.

Markets fell after the seven-day average number of COVID-19 cases in the US hit a record high.

“Although vaccine approval in the U.S. appears imminent, increased restrictions or shutdowns in the U.S. could slow the near-term recovery in economic growth,” Goldman Sachs equity strategists wrote on Monday.

Still, analysts are hopeful for the longer term.

“The economy could be booming next spring if enough of us are inoculated against the virus,” said Ed Yardeni, president of Yardeni Research.