Wynn stock suffers greatest selloff in 2 1/2 years right after new COVID lockdowns in China

Shares of Wynn Resorts Lt.
WYNN,
-12.25%
tumbled 11.6% in afternoon trading Monday, enough to speed the S&P 500’s
SPX,
-.75%
losers, after some towns in China started imposing new COVID-similar lockdowns. That put Wynn’s stock on monitor to experience the biggest 1-day selloff considering the fact that it plunged 20.9% on March 18, 2020 at the start of the pandemic. The new lockdowns arrived just two weeks just after Wynn’s stock soared 12.% to direct the S&P 500’s gainers as Macau officers announced the easing of COVID-connected vacation constraints. In the meantime, Las Vegas Sands Corp.’s inventory
LVS,
-7.55%
sank 7.1% and was the fourth-worst S&P 500 performer. And in other places, shares of Melco Resorts & Entertainment Ltd.
MLCO,
-7.29%
slid 7.5% and MGM Resorts Global
MGM,
-3.86%
dropped 3.7%.