https://www.cnbc.com/amp/2021/11/26/stock-futures-open-to-close-market-news.html
U.S. stock futures dropped in early morning trading on Friday as investors geared up for a shortened trading day amid renewed Covid fears over a new variant found in South Africa.
Futures for the Dow Jones Industrial Average fell 800 points, while those for the S&P 500 and Nasdaq 100 were also in in negative territory.
The downward moves came after WHO officials on Thursday warned of a new Covid-19 variant that's been detected in South Africa. The United Kingdom temporarily suspended flights from six African countries due to the variant.
Bond yields tumbled amid the flight to safety. The yield on the benchmark U.S. 10-year Treasury note fell to 1.5380%, a sharp reversal after surging above 1.65% earlier this week. Bond yields move inversely to prices.
Oil prices also tumbled, with U.S. crude futures down 6.2% to $73.57 per barrel, while the South African rand weakened 1.7% against the greenback to 16.231 per dollar.
Asia markets were hit hard in Friday trade, with Japan's Nikkei 225 and Hong Kong's Hang Seng index both falling more than 2% each.
Submitted November 26, 2021 at 05:56AM by cookingboy https://ift.tt/3DUf7mk
