Wall Street predicts that companies in the weeks ahead will report 63% earnings growth for the second quarter of this year. NYSE

Stocks don’t need a reason to flop. Feel free to dismiss Monday’s 2% decline in the S&P 500 as a statistical half-sneeze. Since 1950, the index has averaged two 5% drops a year, according to Lindsey Bell, chief investment strategist at Ally Invest.

But assigning blame is more satisfying, and two easy culprits stand out: a Covid-19 surge and peaking growth. 

Cases of Covid-19, especially the fast-traveling Delta variant, are rising in many parts

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