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About variant: The WHO has already given the name for the new African coronavirus
The Dow Jones Industrial Average, which includes stocks of 30 leading U.S. firms, depreciated 2.53 percent and closed at 34,899.34 points. The broader S&P 500 fell 2.27 percent to 4,594.62 points, while the Nasdaq Composite Index, which includes many high-tech firms, lost 2.23 percent to 15,491.66 points.
Stocks sink on new COVID variant #omicron; Dow loses 905 points https://t.co/7TjQ2BcRcd pic.twitter.com/2Z4q5SoW6a
– PIX11 News (@ PIX11News) November 26, 2021
Airlines also saw a significant decline
Shares of United Airlines, Delta Air Lines and American Airlines, for example, have suffered a significant decline, as have the shares of Carnival, Royal Caribbean Cruises and Norwegian Cruise Line. On the other hand, they have intensified the actions of companies that could benefit from the limited movement of people, such as Internet TV Netflix or video conferencing service providers Zoom Video Communications.
Source: Tasr / App Photo / Susan Walsh, File
Annoying déjà vu
The plunge of travel action is even beginning to resemble the threatening one of March 2020, when a pandemic broke out worldwide.
The Stoxx 600 Travel & Leisure Index is starting to look a bit like the price declines of March 2020: pic.twitter.com/TeYUAate63
– Karel Mercx (@KarelMercx) November 26, 2021
Oil is even worse
Today, oil prices have seen the sharpest decline since last April due to fears of a new coronavirus mutation. Brent North Sea crude fell 11.6 percent to close at $ 72.72 per barrel. The prize of US.
Source: gettyimages.com
In order to spread the new variant, traders fear that an advance in supply will arise in the oil market.
Oil drops below $ 71 per barrel https://t.co/su6WjygUto pic.twitter.com/0uHrmpFb4W
– Bloomberg Markets (@markets) 26 November 2021
The new version of the coronavirus has an extraordinary number of mutations
The new version of the coronavirus, called B.1.1.529, is spreading rapidly in South Africa’s most populous province, and scientists say it is concerned. It carries an extraordinary number of mutations and may be more aggressive than the previous variants. Many countries, including European ones, are already responding by banning flights from the affected area.
In the foreign exchange market, due to fear of the new mutation, the Japanese yen and the Swiss franc are significantly strengthening, which are considered a safe haven in times of uncertainty. It also strengthened the euro against the dollar, which gained around 0.9 percent to $ 1.1311 around 19:30 CET.
It is a textbook example
At the same time, the dollar against the Japanese yen lost 1.9 percent to 113.19 JPY and depreciated 1.4 percent to 0.9232 CHF against the Swiss franc. The euro has also weakened against the yen and franc, but less sharply than the dollar. “It is a textbook example of an escape to the yen and the Swiss franc due to a new virus mutation.” Said analyst Kenneth Broux of Société Générale, according to Reuters.
