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Stocks crater as new COVID-19 variant triggers market sell-off - Fox Business

Stocks crater as new COVID-19 variant triggers market sell-off - Fox Business

Stocks crater as new COVID-19 variant triggers market sell-off - Fox Business
Nov 26, 2021 1 min, 9 secs

Market data provided by Factset.

Mutual Fund and ETF data provided by Refinitiv Lipper.

Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the markets as fears emerge regarding a new COVID variant and why he's telling investors not to panic.

stocks dropped sharply on Friday as a new, fast-spreading COVID-19 variant detected in South Africa triggered fresh fears that a resurgent coronavirus could scuttle the global economy's recovery from the pandemic. .

The drop comes after health officials warned of a new variant found in South Africa that has a high number of mutations and has spread quickly among young people.

The economic impacts of the new strain – which has been found in Hong Kong, Belgium and Israel, as well as South Africa – were already being felt on Friday, with at least 10 European nations suspending air travel from southern Africa.

The 27-nation European Union also recommended an "emergency brake" on travel from southern Africa, citing the "very concerning" new variant.

While it was not immediately clear how effective the vaccines were against the new variant, mRNA vaccines – such as those developed by Pfizer and Moderna – can be easily updated. .

And with Black Friday underway investors will also keep a close eye on retail stocks as early sales data rolls in

Market data provided by Factset

Mutual Fund and ETF data provided by Refinitiv Lipper

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