Global stocks sink as delta variant sparks economic recovery fears

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Oil prices also tanked. Over the weekend, OPEC and its allies agreed to ramp up production despite the uncertainty with the delta variant, saying that oil demand is showing “clear signs of improvement” in a statement Sunday. Brent crude, the international oil benchmark, shed more than 4.7 percent to trade at $70.10 per barrel. West Texas intermediate crude, the U.S. oil benchmark, declined more than 5 percent to $68.09.

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