Dow, Nasdaq 100 and S&P 500 Set to Open Sharply Lower on Fresh Covid-19 Scare
US Stock Markets – Prices and Charts
- Wall Street called 2.3% lower, Nasdaq seen opening 1.2% in the red
- Worries over a new South African Covid-19 variant behind the sell-off.
Black Friday is taking on a new meaning today as risk markets across the globe slump on fears that a newly-identified Covid-19 variant may force countries to re-introduce new vaccination restrictions or lockdowns. Financial markets are worried that the new Covid-19 strain detected in South Africa – Nu variant – may be more transmissible than the Delta variant, while current vaccines may be less effective against it. The World Health Organization (WHO) who warned of the new variant late Thursday, has called a special meeting today to discuss the latest outbreak.
Risk markets open the European session sharply lower, while traditional safe-haven assets received a strong bid, following the heavy losses seen in Asian equity markets overnight.
Flows into safe-haven US Treasuries forced bond yields lower with markets now questioning the timing and number of interest hikes expected in the US next year.
Yields via Investing.com
As of 12:00 GMT, Wall Street was seen opening around 830 points lower (-2.32%), the Nasdaq was seen 195 points lower (1.2%), while the S&P 500 is expected to open the session 87 points in the red (1.83%). On the other side of the risk spectrum, the VIX fear gauge is currently trading 12% higher at 23.30.
Dow Jones Daily Price Chart – November 26, 2021
Nasdaq Daily Price Chart November 26, 2021
S&P 500 Daily Price Chart November 26, 2021
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