, which were hammered last year during lockdowns but have climbed recently on the reopening hopes, fell more than 4%.
Some of the recent optimism about the leisure industry has waned as the reopening might take a bit longer than initially thought, said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "We're not out of the woods yet when it comes to the COVID virus and getting to where global economies are reopening," he said. "Some of that enthusiasm has diminished."
A leading epidemiologist at the World Health Organization said on Monday the latest rise in COVID-19 infections worldwide reflected increases among all age groups. Wall Street scaled record highs last week as investors bet on stocks such as industrials and miners that are seen as benefiting from the economic rebound, while highly valued technology stocks regained favor after a retreat in bond yields.
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