Dow suffers worst day since October

Posted at 5:39 PM, Jul 19, 2021
and last updated 2021-07-19 20:39:04-04

The Dow Jones Industrial Average dropped 725 points Monday amid economic jitters over the Delta Variant.

The Dow is still up 3,738 points since Jan. 4, even after its worst day since October.

"Hopefully, if it does slow (the economy) down, it's a small amount, it's more of a pumping of the breaks, than a slamming on of the breaks," said Dennis Brewster, a San Diego financial advisor. "That's probably what it would be. But the last thing these companies would want to go through is getting burned again."

In June, San Diego County's leisure and hospitality field added 4,800 jobs, comprising 84 percent of the job gains over the month. At the Intercontinental San Diego hotel on the waterfront, the rooms were more than 80 percent occupied over the weekend. The hotel is also expected to near that level of occupancy during the week because a group reserved 100 of its rooms, said general manager Chuck Abbott.

"Business is certainly much better since June 15th when we were able to open up," he said.

Abbott said he is seeing a lot of demand for travel, but his biggest challenge now is filling about a dozen jobs amid a shortage of workers.