Corona fears have gripped Wall Street

This year’s “black friday” was one of the worst since the phenomenon arose in the 50’s, writes CNBC. Usually, the big trading day leads to an upswing on the stock exchanges. But this black friday ended with red rallies for all the key indices on Wall Street.

Friday was a “half day” on the US stock exchanges, due to a cramped day between Thanksgiving and the weekend. Wall Street therefore closed today at 19 Norwegian time.

This is how the key indices on Wall Street closed:

• The Dow Jones industrial average is down 2.12 percent
• Technology-heavy Nasdaq Composite down 2.23 percent
• The broad S&P 500 index is down 1.83 percent

For the Dow Jones index, it means the third week in a row with falls, and Friday is the worst for the index in over a year, since October 2020.

Burdened by bad corona news

It has hit the stock exchanges in both the US and Europe after the South African authorities announced a new variant of the coronavirus. The mutation should be more contagious than the delta variant

Tourism stocks are contributing strongly to the decline on Wall Street. Aircraft manufacturer Boeing was down 5.42 percent at closing. Airlines Delta Airlines (down 8.31 percent), American Airlines (down 8.71 percent) and United Airlines (down 9.57 percent) were all among S & P’s losing shares, along with cruise companies Royal Caribbean Group (down 13.20 percent) and Norwegian Cruise Lines (down 11.36 percent).

Vaccine company today’s winner

The vaccine companies Moderna, Pfizer and Biontech, on the other hand, gained momentum after today’s news. Moderna closed up by as much as 20.57 percent, and was the clear winner at S&P on Friday. It was far down to second place, which went to Pfizer which closed up 6.15 percent.

Biontech, which is listed on the Nasdaq, closed up 14.19 percent.

The day was also good for so-called “stay at home” shares. The streaming service Netflix closed up 1.12 percent and the video conferencing company Zoom closed up 6.77 percent.

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