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New York (CNN Business)US stocks tumbled Thursday as investors grew fearful that the electric global economic rebound could be slowing. TheDow(INDU)was 380 points, or 1.1%, lower. TheS&P 500(SPX)dropped 1.2% and theNasdaq Composite(COMP)sank 1.3%. Oil pricesfell for the third-straight day, andbitcoin(XBT)dropped more than 4%.International stock marketswere also sharply lower. Several factors contributed to Wall Street's sharp reversal from itsrecord highsset Wednesday. The Delta variant:The spread of the coronavirus' Delta variant continued to threaten the global economic recovery. More than4 million people around the world have diedof Covid-19, according to Johns Hopkins University. But the Delta variant is abouttwice as infectiousas the 2020 version a kind of "Covid-19 on steroids," Andy Slavitt, a former senior adviser to Joe Biden's Covid Response Team, told CNN on Wednesday. Covid-19 cases haverisen at least 10% in 24 US statesover the past week. Japan declared astate of emergencythat will last through August 22 a period that includes all of the Olympic games. China's National Health Commission earlier this week reported the highest daily tally of infections since January 30. And a group of more than 4,000 scientists and health professionalssigned a letterthis week condemning the British government's plans to drop most pandemic control measures on Monday as the Delta variant spreads. Wall Street feared that the spread of the Delta variant could undo much of the progress gained over the past year. "Growing concerns around the Delta variant are adding to anxieties about the global growth outlook," said Keith Lerner, chief market strategist at Truist Advisory Services. China:China continues tocrack down down on tech companiesthat list their shares in the United States, contributing to uncertainty for investors in those companies. Publicly traded Chinese companies were down another 6% in premarket trading, according to Art Hogan, chief strategist at National Securities Corporation.