HomeNewsDow drops 900 points due to fears of new COVID-19 variant

Dow drops 900 points due to fears of new COVID-19 variant

The Dow Jones Industrial Average dropped 900 points on Friday amid fears over the new COVID-19 variant.

Whereas the Dow dropped 2.5 %, the S&P 500 dropped 1.9 % and the Nasdaq slid 1.5 %.

The Dow Jones Industrial Average dropped 905.04 points, or 2.53%, for its worst day of the year, closing at 34,899.34. The S&P 500 lost 2.27% to shut at 4,594.62, whereas the Nasdaq Composite slipped 2.23% to complete at 15,491.66. The Dow was down greater than 1,000 factors at session lows.Also check out free fire redeem codes 27 november 2021.

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Shares plunged as numerous nations moved Friday to implement journey restrictions on southern Africa following the emergence of the brand new COVID-19 variant.

South African well-being officers stated throughout a briefing Thursday that the brand new variant is “very completely different” from previous mutations. And well-being officers within the U.Ok., which was one of many first to ban flights from a number of nations in South Africa, warned that the variant is one of the important but.

Oil shares dropped on Friday, with U.S. crude futures down 6.2 % to $73.57 per barrel. Tech firms corresponding to Apple and Fb mum or dad Meta additionally dropped 2 % and 1.4 %, respectively, whereas electrical car firms corresponding to Tesla, Rivian and Lucid Motors all noticed their shares drop.

Asian-based markets had been additionally hit onerous by the market drop, as Japan’s Nikkei and China’s Cling Seng index fell greater than 2 % every, CNBC reported.

Markets within the U.S. had been closed on Thursday for Thanksgiving, and shares had been coming off slight good points on Wednesday. Friday’s markets will shut at 1 p.m. on Friday because of the Thanksgiving vacation. Also, read Third largest bitcoin whale.

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The World Health Organization (WHO) has referred to a particular assembly on Friday amid issues concerning the new COVID-19 variant. 

Based on Reuters, the health agency had cautioned nations from implementing journey restrictions linked to the brand new variant.

“At this level, implementing journey measures is being cautioned towards,” WHO spokesman Christian Lindmeier stated at a United Nations assembly. “The WHO recommends that nations proceed to use a risk-based and scientific strategy when implementing journey measures.” Apple and google 20 million euro fine in italy?

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