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

Shares of Wynn Resorts Lt. WYNN, -11.77% tumbled 11.6% in afternoon trading Monday, enough to pace the S&P 500’s SPX, -0.51% losers, after some cities in China started imposing new COVID-related lockdowns. That put Wynn’s stock on track to suffer the biggest one-day selloff since it plunged 20.9% on March 18, 2020 at the start of the pandemic. The new lockdowns came just two weeks after Wynn’s stock soared 12.0% to lead the S&P 500’s gainers as Macau officials announced the easing of COVID-related travel restrictions. Meanwhile, Las Vegas Sands Corp.’s stock LVS, -7.44% sank 7.1% and was the fourth-worst S&P 500 performer. And elsewhere, shares of Melco Resorts & Entertainment Ltd. MLCO, -7.23% slid 7.5% and MGM Resorts International MGM, -3.86% dropped 3.7%.