New York Stock Market Closed Down With Concerns About New Variant Of Covid-19


The New York stock market closed the last trading day of the week with a decline, with concerns about the new variant emerging in the new type of coronavirus (Covid-19) epidemic.

At the close, the Dow Jones index depreciated by more than 900 points and decreased by 2.53 percent to 34,899.34 points. The index dropped over 1000 points during the day.

The S&P 500 index fell 2.09 percent to 4,603.20, and the Nasdaq index fell 2.23 percent to 15,491.7 points.

The American stock market, which was closed yesterday due to the Thanksgiving holiday and traded for half a day today, had a negative course due to concerns about the new variant emerging in the Covid-19 outbreak.

In South Africa , it has been reported that a large number of mutated new variants of Covid-19, named B.1.1.529, have been detected.

While news about the sighting of the new variant in Israel and Belgium came, it was noted that countries such as England, France and Russia suspended flights from some African countries due to the variant in question.

With the ongoing increase in cases in the epidemic, the concern that the new variant may negatively affect the economic recovery brought selling pressure in the stock markets.

Shares related to travel were among the biggest losers, while the shares of United Airlines, one of the largest airline companies in the USA, fell by more than 9 percent and the shares of American Airlines by more than 8 percent. Shares of shipping and cruise companies also fell. Among these companies, the losses in the shares of Carnival exceeded 10 percent, while the decline in the shares of Royal Caribbean exceeded 13 percent.

The 10-year bond yield of the USA, which has shown an upward trend since the beginning of the week and climbed to 1.68%, has decreased to the level of 1.49 percent today.

Oil prices also followed a downward trend, while West Texas type (WTI) crude oil dropped to $68.88 a barrel.

While a negative trend is observed in the crypto money market, Bitcoin has lost more than 8 percent and Ethereum has lost more than 10 percent in the last 24 hours.