Dow Jones Drops 900 Points: New Covid Strain FEARS Blamed For Sick Economy

[G.L.R.]

Dow Jones Drops 900 Points on Opening Bell as New COVID-19 Variant Roils Markets

November 26, 2021



'Non Essential' things that help ensure a healthy society/economy

The Dow Jones fell over 900 points just after opening bell on Nov. 26, with other major Wall Street stock indexes—and risk assets more generally—also seeing sell-offs as news of a new COVID-19 variant spreading in South Africa seems to have sparked a broader risk-off sentiment among investors. By 10:30 a.m. New York time, the Dow was down ... after briefly falling more than 900 points before seeing a slight relief rally. .... while the tech-heavy Nasdaq was down around 200 points... Overnight headlines about the emergence of the new COVID-19 variant in South Africa sent a ripple of uncertainty across markets, knocking down U.S. and global shares, sending crude oil prices tumbling over 10 percent, as skittish investors pivoted to haven assets like U.S. Treasury's and gold."The one bull in the China shop that could truly derail the global recovery has always been a new strain of COVID-19 that swept the world and caused the reimposition of mass social retractions,"...

How can we trust anything they say about anything anymore?

"All we know so far is the B.1.1.529 is heavily mutated, but markets are taking no chances," he added. Little is known about the new COVID-19 variant, detected in South Africa, Botswana, and Hong Kong, ... COVID-19 is the disease caused by the CCP virus... Market analysts said that, given the uncertainty, investors were predictably reacting with greater caution."We still don't know how infectious the virus is ... it's a general uncertainty," said currency analyst at Bank of Singapore. He said markets were responding to the risk of another global wave of infections, adding that "reopening hopes could be dashed." While scientists say they still have much to learn about the new variant, its emergence has already prompted renewed travel restrictions... Authorities in the European Union are seeking to halt air travel from the southern African region amid rising concern about the variant...

Dow Jones Drops 900 Points on Opening Bell as New COVID-19 Variant Roils Markets
https://www.theepochtimes.com/mkt_breakingnews/dow-jones-drops-900-points-on-opening-bell-as-new-covid-19-variant-roils-markets_4125637.html