U.S. stock futures turned bright red early Friday after scientists detected a new COVID variant in South Africa that could be responsible for the recent surge in dramatic incidents, causing significant losses in the Asian market. I tracked it.
Investors are returning to a shortened day of trading after Thanksgiving holidays.
How are stock index futures traded?
S & P500 Futures
1.1% decrease to 4,644
Dow Jones Industrial Average 30 Average Futures
546 points (1.5%) down to 35,207
0.6% decrease to 16,255
It fell 9.42 points and ended almost flat at 35,804.38. S & P 500
According to Dow Jones market data, it fell 0.2% to close at 4,701.46, just 0.1% below the record closing price of 4,704.54 on November 18.Nasdaq Composite Index
It increased by 0.4% to 15,84.23.
What is driving the market?
The discovery of a new COVID variant South African Health Minister Joe Fara announces Friday.. He said the number of mutations was high and scientists were concerned because of the dramatic surge in infectious diseases that the country had seen in the last four to five days.
He said at an online press conference that a variant, now known as B.1.1.529, was also found in South African travelers in Botswana and Hong Kong. The World Health Organization’s Technical Working Group holds an emergency meeting to evaluate variants. Scientists are not sure if it is more deadly or simply contagious.
Jeffrey Halley, Senior Market Analyst at OANDA, said: With a memo. “The only thing we know so far is that B.1.1.529 has changed significantly, but the market is missing out on opportunities.”
South Africa reported more than 1,200 on Wednesday and more than 2,465 on Thursday after new cases appeared to be stable at 200 a day. Scientists and health officials are concerned that such highly mutated variants may escape the vaccine. The UK government, which goes into effect on Friday, has banned flights from the country along with five other African countries.
As futures fell on the Nikkei Stock Average and Asian stock prices fell,
With an oversized 2.5%, investors flocked to perceived safer assets such as gold.
The Japanese yen rose $ 14 to $ 1,798.30.
Government bonds increased 0.7% to 114.50.yield
For 10 years, the US Treasury fell 9 basis points to 1.5517%.
U.S. crude oil prices
Concerns about declining demand among the new varieties were recognized, resulting in a 3% drop per barrel to $ 75.90.
“For now, it is understood that the number of cases is small, but the low liquidity level of Asian transactions as a result of the U.S. vacation seems to be very responsive, with bond spikes and yield plunges. Michael Hewson, Chief Market Analyst at CMC Markets, said:
Investors are returning from a Thanksgiving break to a shortened session for the US market. This often results in low trading volumes as traders often wait until Monday to return. There is no economic data on Friday’s calendar. However, this week was boiled over by the rise in COVID cases in Europe and concerns about new restrictions.
Fear of new varieties obscured Black Friday’s shopping day, when consumers focus on retailers when buying bargains.
Dow futures fall 400 points on concerns about new COVID variants detected in South Africa
http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77A0-D8AA47024DF6%7D&siteid=rss&rss=1 Dow futures fall 400 points on concerns about new COVID variants detected in South Africa