US. Oil prices are also badly hit.
Over the summer, the Delta variant spooked consumers and weighed on sectors like leisure and hospitality. Now investors and economists worry that the new variant could do the same.
“The pandemic and COVID variants remain one of the biggest risks for markets, and will likely continue to inject volatility into the next year” or even further, “said Keith Learner, co-court investment officer and chief market strategist at Truist Advisory Services, In a tone to clients.
“It is difficult to say at this point how lasting or impact the latter variant will be for markets,” he added.
It is a shortened trading session because the New York Stock Exchange will close at 1 PM ET after being closed Thursday for Thanksgiving. Reduced trading volume during this half-day session is also likely to intensify the swings in the market.
Nevertheless, it can be one of the worst days of the year for stocks.
Outside of equities, other asset classes are also struggling Friday.
Oil prices are tumbling, for example. Oil futures fell nearly 12%, or more than $ 9, to $ 69.27 per barrel around the late morning. The global benchmark brand dropped 10.5% to $ 73.59 per barrel.
The US. It. Dollars, measured according to the ICE US.
Meanwhile, investors are pushing into safe haven investments. The 10-year US. It. Treasury bond is more expensive and yields fell nearly 0.2 percentage points to 1.49% Friday morning. Gold prices also jumped.