New York shares end: Gloomy Friday because of the new Corona variant

NEW YORK (dpa-AFX) – Ironically, on the bargain day “Black Friday” there was also a sell-off on Wall Street in stocks. The fear of a new coronavirus variant left the Dow Jones Industrial at times drop by almost three percent to the lowest level in six weeks. With 34 899.34 points, the price barometer was only able to reduce its losses slightly to 2.53 percent at the early close of trading. The weekly balance was still negative with a two percent drop. The day after Thanksgiving, trading ended three hours earlier than usual.

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The market-wide S&P 500 also lost 2.27 percent to 4594.62 points. On the Nasdaq, technology stocks, some of which are viewed by investors as possible beneficiaries of a prolonged corona crisis, did not come under much less pressure. The Nasdaq 100 selection index could not escape the downward spiral with a discount of 2.09 percent to 16 025.58 points.

Craig Erlam of broker Oanda observed an “escape to safety in the face of mounting fear of variants”. Experts fear that variant B.1.1.529, discovered in southern Africa, is not only highly contagious due to an unusually large number of mutations, but could also penetrate the protective shield of the vaccines more easily. This caused lockdown worries to boil among investors./tih/stw

Source: dpa-AFX

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