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Marketplace’s Nancy Marshall-Genzer has more.
The fates of the world’s economies are interconnected, says Christopher Low, chief economist at FHN Financial. Which means in a world of vaccine haves and have-nots, all economies are going to pay a price the longer it takes to get ahold of the pandemic for everyone. As Low explains, market jitters this week, in which the Dow and S&P were both down around 1.5% at one point on Thursday, are a result of the reminder that COVID is not as far behind the world as folks may have thought, with the delta variant running rampant in certain places. Also, the U.S. is still experiencing shortages or bottlenecks because it’s very dependent on production and resources from other parts of the world that don’t have COVID under control as much.