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Dow drops 800 points as new Covid variant sparks market sell-off

U.S. stock dropped on Friday on renewed Covid fears over a new variant found in South Africa. The Do

Dow drops 800 points as new Covid variant sparks market sell-off

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Friday is a shortened trading day because of the Thanksgiving holiday with U.S. markets closing at 1 p.m. ET.</p>\n<p>Anew coronavirus variant has been discovered in South Africa, leading to an emergency session of the World Health Organization. Scientists say the new B.1.1.529 strain a concern, because it harbors a large number of mutations found in other variants — including the fast-spreading Delta variant that exploded over much of the summer — and it seems to be rapidly spreading.</p>\n<p>While there's no evidence yet, health officials are worried that the mutating variant could dilute or resist the efficacy of vaccines.</p>\n<p>\"It goes without saying that it’s still too early to say exactly how big a threat the new B.1.1.529 strain poses to the global economy,\" Neil Shearing, Group Chief Economist at Capital Economics, said in a note.</p>\n<p>Still, \"the lesson from the past couple of years is that it’s the restrictions that are imposed in response to the virus – rather than the virus itself – that causes the bulk of the economic damage. So, the key question is how governments will respond in the event that the B.1.1.529 strain spreads,\" Shearling wrote.</p>\n<p>\"That in turn will hinge on the extent to which it escapes the vaccines and, importantly, causes strains in national healthcare systems,\" he added — underscoring that governments in the U.S. and U.K. had taken a \"learn to live with the virus\" approach, and thus are far less likely than other regions to impose new restrictions.</p>\n<p>Meanwhile, BioNTech (BNTX) said on Friday&nbsp;it expects more data on the new coronavirus variant in South Africa within two weeks&nbsp;to help its shots should be reworked.</p>\n<p>Oil prices also swooned, with U.S. crude futures down 6.2% to $73.57 per barrel on perceived fears of falling demand amid the new variant. Bond yields have also fallen as the market's inflation fears temporarily gave way to the desire for safe-haven assets. The yield on the benchmark 10-year U.S. Treasury note was down to 1.53% after closing at 1.63% on Wednesday.</p>\n<p>There is no major economic releases scheduled for Friday. The stock market will close at 1 p.m. ET on Friday due to the holiday weekend.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow drops 800 points as new Covid variant sparks market sell-off</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow drops 800 points as new Covid variant sparks market sell-off\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-11-26 22:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stock dropped on Friday on&nbsp;renewed Covid fears over a new variant found in South Africa.</p>\n<p>The Dow Jones Industrial Average dropped 800 points, or more than 2%, while the S&amp;P 500 and Nasdaq Composite slid 1.4% and 0.9%, respectively. Friday is a shortened trading day because of the Thanksgiving holiday with U.S. markets closing at 1 p.m. ET.</p>\n<p>Anew coronavirus variant has been discovered in South Africa, leading to an emergency session of the World Health Organization. Scientists say the new B.1.1.529 strain a concern, because it harbors a large number of mutations found in other variants — including the fast-spreading Delta variant that exploded over much of the summer — and it seems to be rapidly spreading.</p>\n<p>While there's no evidence yet, health officials are worried that the mutating variant could dilute or resist the efficacy of vaccines.</p>\n<p>\"It goes without saying that it’s still too early to say exactly how big a threat the new B.1.1.529 strain poses to the global economy,\" Neil Shearing, Group Chief Economist at Capital Economics, said in a note.</p>\n<p>Still, \"the lesson from the past couple of years is that it’s the restrictions that are imposed in response to the virus – rather than the virus itself – that causes the bulk of the economic damage. So, the key question is how governments will respond in the event that the B.1.1.529 strain spreads,\" Shearling wrote.</p>\n<p>\"That in turn will hinge on the extent to which it escapes the vaccines and, importantly, causes strains in national healthcare systems,\" he added — underscoring that governments in the U.S. and U.K. had taken a \"learn to live with the virus\" approach, and thus are far less likely than other regions to impose new restrictions.</p>\n<p>Meanwhile, BioNTech (BNTX) said on Friday&nbsp;it expects more data on the new coronavirus variant in South Africa within two weeks&nbsp;to help its shots should be reworked.</p>\n<p>Oil prices also swooned, with U.S. crude futures down 6.2% to $73.57 per barrel on perceived fears of falling demand amid the new variant. Bond yields have also fallen as the market's inflation fears temporarily gave way to the desire for safe-haven assets. The yield on the benchmark 10-year U.S. Treasury note was down to 1.53% after closing at 1.63% on Wednesday.</p>\n<p>There is no major economic releases scheduled for Friday. The stock market will close at 1 p.m. ET on Friday due to the holiday weekend.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127856678","content_text":"U.S. stock dropped on Friday on renewed Covid fears over a new variant found in South Africa.\nThe Dow Jones Industrial Average dropped 800 points, or more than 2%, while the S&P 500 and Nasdaq Composite slid 1.4% and 0.9%, respectively. Friday is a shortened trading day because of the Thanksgiving holiday with U.S. markets closing at 1 p.m. ET.\nAnew coronavirus variant has been discovered in South Africa, leading to an emergency session of the World Health Organization. Scientists say the new B.1.1.529 strain a concern, because it harbors a large number of mutations found in other variants — including the fast-spreading Delta variant that exploded over much of the summer — and it seems to be rapidly spreading.\nWhile there's no evidence yet, health officials are worried that the mutating variant could dilute or resist the efficacy of vaccines.\n\"It goes without saying that it’s still too early to say exactly how big a threat the new B.1.1.529 strain poses to the global economy,\" Neil Shearing, Group Chief Economist at Capital Economics, said in a note.\nStill, \"the lesson from the past couple of years is that it’s the restrictions that are imposed in response to the virus – rather than the virus itself – that causes the bulk of the economic damage. So, the key question is how governments will respond in the event that the B.1.1.529 strain spreads,\" Shearling wrote.\n\"That in turn will hinge on the extent to which it escapes the vaccines and, importantly, causes strains in national healthcare systems,\" he added — underscoring that governments in the U.S. and U.K. had taken a \"learn to live with the virus\" approach, and thus are far less likely than other regions to impose new restrictions.\nMeanwhile, BioNTech (BNTX) said on Friday it expects more data on the new coronavirus variant in South Africa within two weeks to help its shots should be reworked.\nOil prices also swooned, with U.S. crude futures down 6.2% to $73.57 per barrel on perceived fears of falling demand amid the new variant. Bond yields have also fallen as the market's inflation fears temporarily gave way to the desire for safe-haven assets. 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Dow drops 800 points as new Covid variant sparks market sell-off

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