2021 is not off to a good start for the Dow Jones Industrial Average (DJINDICES: ^DJI) or the broader stock market, with the Dow down 1.7% at 1:20 p.m. EST Monday. With stimulus checks hitting Americans’ bank accounts and wide availability of COVID-19 vaccines just months away, there are plenty of reasons to be optimistic. But valuations are historically high and talk of a stock market bubble could be weighing on investors’ minds.
Shares of Apple (NASDAQ: AAPL) and Coca-Cola (NYSE: KO) were down big on Monday to lead the Dow lower. Apple stock sank despite a call for the tech giant to outperform other FAANG stocks this year, and Coca-Cola stock slumped after it was downgraded on valuation concerns.