Late-day sell-off knocks stocks | What's next with infrastructure bill | Retailers rethink mask policies

U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.

VIEW IN BROWSER | SUBSCRIBE MON, AUG 02, 2021 EVENING BRIEF AS OF MON, AUG 02, 2021 • 04:19 ET DJIA 34838.16 -0.28% -97.31 S&P 500 4387.16 -0.18% -8.10 NASDAQ 14681.07 +0.06% +8.39   Most Active DOW NAME LAST CHG %CHG AAPL 145.52 -0.34 -0.23% INTC 53.68 -0.04 -0.07% MSFT 284.82 -0.09 -0.03% S&P 500 NAME LAST CHG %CHG AMD 108.63 +2.44 +2.30% F 13.91 -0.04 -0.29% AAPL 145.52 -0.34 -0.23% NASDAQ NAME LAST CHG %CHG AMD 108.63 +2.44 +2.30% AAPL 145.52 -0.34 -0.23% TSLA 709.67 +22.47 +3.27%   EDITOR'S NOTE A drop in Treasury yields on Monday put growth concerns on display, causing investors to flee stocks tied to the economic recovery like materials and energy.   The yield on the benchmark 10-year Treasury note fell as much as 8 basis points to 1.15%. Yields move inversely to prices. One basis point equals 0.01%. Monday's slide followed data showing the U.S. manufacturing sector expanded at a slower pace than a month ago. The spread of the delta coronavirus variant also continued to unnerve investors. The U.S. is averaging more than 63,000 new Covid cases a day the last seven days, according to the latest CDC data, near its highest level since April this year.   "The fear over the Delta variant of the Covid-19 virus and the other side of 'peak everything' has investors on edge, while the monetary and fiscal support for the economy coupled with historically strong earnings keeps liquidity high," Canaccord Genuity analyst Tony Dwyer said in a note to clients.   Meanwhile, the Federal Reserve is moving closer to tapering its massive asset purchases to support the economy, posing a risk to the stock market at record highs. Goldman Sachs said investors should focus on high-quality companies with strong balance sheets to ride out the Fed uncertainty.   Goldman highlighted megacap tech names like Facebook and Alphabet, as well as semiconductor leaders Nvidia and AMD. Yun Li | CNBC Markets and Investing Reporter @YunLi626 TOP NEWS  Dow tumbles about 100 points after late-day sell-off in stocks Here's what comes next for the $1 trillion bipartisan infrastructure bill Target, Kohl's to enforce masks for store workers in high-risk counties Goldman Sachs joins Wall Street rivals in boosting junior banker salaries Wall Street likes these infrastructure stocks a lot as Washington gets set to give sector a boost As the economy hits its peak, stock market gains could be harder to come by U.S. reaches 70% Covid vaccine milestone for adults about a month behind Biden's goal Fed Governor Waller sees reduction in bond purchases possibly starting in October Treasury Dept to invoke 'extraordinary measures' as Congress misses debt-ceiling deadline Reese Witherspoon's Hello Sunshine to be sold to Blackstone-backed media company for $900 million   TOP VIDEO Will the delta variant impact the markets?   CNBC PRO Cathie Wood's ARK funds bought $65 million more of Robinhood stock   SPECIAL REPORTS Despite national protection expiring, some states will continue banning evictions How the China tech crunch affects the bull case behind emerging markets   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS