Stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections. The Dow Jones Industrial Average traded 706 points lower, or 2.3%. The S&P 500 dipped 2.4%, and the Nasdaq Composite slid 2.5%. Both the Dow and S&P 500 hit record highs at the open. This would mark the first time since 2016 that the market closed lower on the first trading day of the year. The Dow and S&P 500 were on pace for their biggest one-day sell-off since Oct. 28, while the Nasdaq was headed for its worst daily performance since Oct. 30. Coca-Cola and Boeing …
