Dow Jones Sinks as Boeing's Rally Fizzles While Apple Reaches a New 52-Week High

Enthusiasm seems to have waned following a powerful rally that erased much of the pandemic-driven losses for major stock indices. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down 0.6% at 12 p.m. EDT Wednesday, undoing some recent gains.

While the economy is reopening across the United States, the possibility of a surge in cases of the novel coronavirus may be spooking investors. Top U.S. infectious disease expert Anthony Fauci recently warned that the pandemic is far from over.

Shares of Boeing (NYSE: BA) underperformed the Dow as a recent rally driven partly by optimism over a recovery in air travel ran into a brick wall of economic reality. Meanwhile, Apple (NASDAQ: AAPL) stock managed to produce a new 52-week high as the company prepares to launch new iPhones later this year.

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Source Fool.com