US equities came under pressure on Monday. The Dow posted it’s worst day since October, SandP had its worst day since May and the Nasdaq has now moved lower five sessions in a row. Significant attention today on Covid resurgence from highly transmissible Delta variant, reviving concerns about return of restrictions and implications for reopening momentum. There has also been discussion of "peak" themes around growth, profits, and policy, which seem to be an overhang on risk sentiment, particularly in the face of stretched valuation and positioning indicators.