TSLA
Tesla
-- 379.280 NVDA
NVIDIA
-- 138.310 RGTI
Rigetti Computing
-- 20.0000 PLTR
Palantir
-- 75.190 AMD
Advanced Micro Devices
-- 120.630 
Dow futures tumble 750 points, oil plunges on fears of new COVID variant
Today's shortened trading day was supposed to be a calm one, given the typically low trading volumes seen on Black Friday, but fears of a new COVID-19 variant found in South Africa is shaking up sentiment. $E-mini Dow Futures(MAR5) (YMmain.US)$ plunged 758 points overnight, while contracts linked to the $E-mini S&P 500 Futures(MAR5) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$ fell 1.7% and 1%, respectively, after stocks sold off in Europe and Asia. WTI $Crude Oil Futures(FEB5) (CLmain.US)$ also tumbled nearly 5% to under $75 as the U.K. imposed fresh travel restrictions and investors reacted to panic over future demand.
The new variant: Believed to have first emerged in Botswana, B.1.1.529 will be called as such until until a Greek letter is assigned to it by the World Health Organization. The variant carries an unusually large number of mutations associated with increased antibody resistance and is "clearly very different" from previous incarnations. South African scientists have already detected 30 mutations to the spike protein, which play a big role in how the virus enters the body.
The biggest concern is whether the virus could lead to more serious illness or decrease the effectiveness of vaccines and treatments. While we don't yet know whether it's more infectious or deadly than other variants, it's spreading across the globe. B.1.1.529 has been found in travelers arriving in Hong Kong, just as COVID cases surge around the world heading into the holiday season.
Go deeper: The World Health Organization has scheduled a special meeting for today to discuss whether to declare the new strain a "variant of concern." "For the moment it is understood that the number of cases is small, but due to the thin liquidity levels in Asia trading as a consequence of the U.S. holiday the reaction does appear to be outsized," said Michael Hewson, chief market analyst at CMC Markets. Other variants of concern include the Delta variant, which is now dominant worldwide, as well as the Alpha variant, which triggered a deadly wave of infections across Europe and the U.S. last winter and spring.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Ernest Semmes : Yawn...more episodic and non-trending volatility...BTFD has been working marvelously all year! Why wouldn’t it? Jay “Put” Powell has the markets covered!
If anything’s obvious it’s a low liquidity market is perfect for manipulation...
Rico Thierman : They announced it just before Black Friday or should I call it Red Friday.
The media exists to scare the hell out of us. It’s working tonight.
Options Newsman : I hear that were going to have to take a new vaccine every week now and locked down/up for another 5 years=stupid voters who vote in the stupid fascist politicians to destroy freedom.
Barney Tamminen Options Newsman : I'd take vaccines every 6 months for the rest of my life if that was what was needed to stay safe. Thanks to vaccines I can safely see my family this year.
uqQFqKrltZ : Let's lock down for another 2 years. While 86% of people are not affected by the CCP-19, we will just destroy ourselves for the 2%. If you lock everyone in their homes, it does help the politicians power and their global warming agenda.
lunaplaza : Rumour has it that this is the highly envisaged Z-Variant, which affects the nervous system, turning humans to zombies.
Katherinerce : Buy, buy; buy.
Another news to shake retail
Leoi : realize you need mandatory vaccinations for their inflation bets to pay off