Concerns over a new contagious strain of coronavirus known in the UK led to sharp declines in European and Asian equities on Monday.
The Dow sheds more than 200 points or 0.8%, while the S&P 500 market is down nearly 1% in the open. Economic reopening stocks – including airlines, cruise lines and lodging companies – fell on Monday morning, making some of the gains made in the past month unexpected amid rising vaccine optimism. The CBOE Volatility Index (આVAX) briefly moved above 30 for the first time in five weeks.
Parts of the UK population, including London, returned to a more annoying state of lockdown over the weekend, with experts saying the country was 70% more transmittable than previous versions of the virus after the discovery of a new variant of COVID-19. . The UK’s FTSE 100 index (^ FTSE) has plunged more than 2%, and the dollar dollar (GBPUSD = X) fell 1.9% again in New York on Monday morning.
With restrictions ranging from days to months, more than two dozen countries have imposed travel bans on the UK in the last few days. Several key countries, including France, have banned both travel and travel, leading to food shortages in Britain ahead of the Christmas holidays.
U.S. on Sunday. On the political front, there was more encouraging news on a temporary basis about new developments around Kovid-1, as legislators struck a 900 900 billion virus-relief package and a government spending package for the fiscal year. The months-long stalemate over further relief between congressional legislators and White House officials came to an end, with the package gaining momentum this month as major unemployment programs approach the end of the year.
The stimulus package will include a second round of direct screening of Americans 600 Americans, an additional federal unemployment benefit of 300 per week, and funding for small businesses and vaccine distribution. Some of the more contentious issues from previous stimulus negotiations – including state and local government assistance and liability protection for businesses – have been excluded from the deal.
“A stimulus deal seems to be the primary psychological driver of the market for a long time. And last week’s low-stellar economic data could give the bulls a boost – the rationale is that Congress was asked to strike a deal, “Chris Larkin, managing director of trading and investment products at E-Trade Financial, said in an email Monday. In the morning. “But now with excitement mainly in the rearview, traders are probably looking for the next market mover. The covid transformation is a reality, and there are at least some disappointments around what is really in the excitement deal, which means we may see this translation in turmoil as we shrink by the end of 2020. “
The House of Representatives is set to vote on a virus-relief package on Monday before sending it to the Senate.
–
10:45 am ET: Shares of Tesla drop in S&P 500 on the first day
Shares of Tesla (TSLA) fell as much as 6.3% on Monday morning, the first day of trading as part of the S&P 500.
The electric car maker suffered a volatile ride in the last hour of trading on Friday as money managers prepared to add billions of shares of the company’s stock to its index funds. Despite a market capitalization of over 600 600 billion, Tesla was the largest company added to the S&P 500, ranking sixth in the index behind Alphabet but ahead of Berkshire Hathaway.
According to Howard Silverblatt, a senior index analyst at the S&P Dow Jones Index, Tesla needed to add funds to the S&P 500’s Trund King in a & 90.3 billion turnover. Tesla’s stock move, given the size of the stock, changes the S&P 500 1 point based on Friday’s closing price.
–
9:31 am ET: Stocks open lower
Markets were the main move here, from 9:30 am ET:
-
S&P 500 (SP GSPC): -44.04 points (-1.19%) to 3,665.37
-
Dow (DJI): -311.07 points (-1.03%) to 29,867.98
-
Nasdaq (X IXIC): -125.31 points (-0.98%) to 12,635.21
-
Crude (CL = f): – 21 2.21 (-4.5%) to $ 46.89 a barrel
-
Gold (GC = f): – 60 2.60 (-0.14%) to 1,886.30 per ns
-
10-year Treasury (TNX): -1.8 bps. Will yield 0.93%
–
9:20 am ET: What we know about the UK coronavirus variant and don’t know yet: Yells Foreman
Dr. Howard Foreman, a professor of radiology and biomedical imaging, public health, management and economics at Yale University, warns that jumping to conclusions about the implications of the newly identified coronavirus variant of the UK is a sign that To existing COVID-19 vaccines.
“I think there are two things that have caught people’s attention. One is the question of whether it is actually more contagious than other stressors. It is possible that it is, but it is also not certain that it is, “Foreman told Yahoo Finance on Monday. And you’ve got an increase in cases that might reflect this new type. So we’re not sure if this is more contagious, it’s number one. “
He added, “Second number, there is no evidence that it is more viral, there is no evidence that it leads to more serious disease or more death.” “And I think the second most important thing right now is that what people have created is the idea that the spike protein has changed. And we know that the spike protein is how the virus gets into the cells, and also how we made all our vaccines, this time, targeting the spike protein. There is no evidence that this change makes our vaccines any effective at the moment. “
“So it’s really important for me to remember the time when humility should be paramount.” “We know so much, we don’t panic about this.”
–
Monday 7:13 and Monday: Stock futures sharp decline on new virus jitters
Markets were the main move here, Monday at 7:13 and until Monday:
-
S&P 500 Futures (ES = f): 3,645.5, down 60.75 points or 1.64%
-
Dow futures (YM = f): 29,673.00, down 440 points or 1.46%
-
Nasdaq futures (NQ = f): 12,578.25, down 134.25 points or 1.06%
-
Crude (CL = f): – 87 1.87 (-3.81%) to $ 47.23 a barrel
-
Gold (GC = f): – 60 3.60 (-0.19%) to 1,885.30 per ns
-
10-year Treasury (TNX): -4.5 bps. Will yield 0.903%
–
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, And reddit.
Get live stock market quotes and the latest business and financial news
For tutorials and information on investing and trading stocks, check out
