Global Markets: US Futures and Oil Dive on new Covid variant fears

Asian stocks led the way, with Hong Kong Hang Seng Index (HSI) a decrease of 2.7%, while die from Japan Nikkei 225 (N225) used to be down 2.5%. European markets sold off also heavy in the open air, with major indices including the FTSE 100, the French CAC40 and the German DAX all down about 3%.
US markets, die were closed on Thursday for Thanksgiving, were slammed for the start of Friday shortened trading session. Dow (INDU) futures fell about 700 points, down 2%. futures for the S&P 500 (INX) and Nasdaq (COMP) goods down 1.6% and 1% respectively.

US crude fell 5% to about $74 a barrel. Brent raw, the global oil benchmark, fell met 4.3%.

Investors were “shocked” by the discovery of the new Covid-19 variant in South Africa, Jeffrey Halley, senior market analyst for Asia-Pacific in Oanda, said: in An research Remark on Friday.

The health of South Africa minister said Thursday that a new variant coronavirus seems to be spreading quickly in components of the country.

It has also detected in Botswana, Hong Kong and Israel.

British minister of Health Sajid Javid the variant “maybe” more transmissible” than the Delta strain and that “the vaccines die we currently may be less effective.” new tribe has already asked the UK government ban flights from six African countries.

Shares in travel and airlines are among the biggest decliners on Friday.

“With the delta wave in thoughts from earlier this year, investors are likely to shoot first and ask questions later until more is there known oversaid Halley.

— Rob North contributed to this article.

Read More: World News

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