The US Markets took a huge hit on Black Friday as the world reacts to news of a new type of COVID coming out of Africa.
Market Watch reports:
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Wall Street stocks skidded sharply lower on Black Friday as investors reacted to fresh travel bans resulting from the discovery in South Africa of a new variant of the coronavirus that causes COVID-19.
The Dow Jones Industrial Average DJIA, -2.53%, the S&P 500 index SPX, -2.27% and the Nasdaq Composite COMP, -2.23% were all down by at least 2% for the day, the major U.S. shopping day known as Black Friday on which retailers are traditionally perceived to enter the black for the year.
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Looking beneath the hood, the damage was widespread.
We reported earlier today on the NU Covid court of Africa:
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New COVID Virus Variant Identified in Africa Is “Highly Transmissible and Vaccine-Resistant”
Biden put in place a travel ban from Africa today.
The uncertainty of this Omicron variant is causing more fear and panic and it shows in the markets today.
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