CNBC: Dow drops 900 points as new Covid variant sparks market sell-off
U.S. stock dropped sharply on Friday as a new Covid variant found in South Africa triggered a global shift away from from risk assets.
The Dow Jones Industrial Average dropped 900 points, or 2.5%, while the S&P 500 and Nasdaq Composite slid 1.8% and 1.5%, respectively. Friday is a shortened trading day because of the Thanksgiving holiday with U.S. markets closing at 1 p.m. ET.
The downward moves came after WHO officials on Thursday warned of a new Covid-19 variant that’s been detected in South Africa. The new variant contains more mutations to the spike protein, the component of the virus that binds to cells, than the highly contagious Delta variant. Because of these mutations, scientists fear it could have increased resistance to vaccines, though WHO said further investigation is needed.
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Update #1: Stocks crater as new COVID-19 variant triggers market sell-off (FOX News)
Update #2: Stocks sink on fears of COVID-19 variant; S&P drops 1.4% (Canadian Press)
WNU Editor: You can watch stocks trade in real time below:
3 comments:
“By the way, I’m hoping for it because one way you get rid of Trump is a crashing economy. So please, bring on the recession,” Maher said. “Sorry if that hurts people but it’s either root for a recession or you lose your democracy….I feel like the bottom has to fall out at some point.”
the post: Nov 26 2021
the quote given here: At least a year or more ago
Fox and similar outlits should note things like this when praising him for saying something sensible.
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