News > Global Markets Extend Losses On New Covid Variant

Global Markets Extend Losses On New Covid Variant

NDTV | 27/11/2021 03:04 PM | Click to read full article

U.S. stocks slid as a post-Thanksgiving selloff spread across global markets amid fears a new coronavirus variant identified in South Africa could spark fresh outbreaks and scuttle a fragile economic recovery. Haven assets surged. 

Equity benchmarks dropped across the board, with cyclical and small-caps taking the brunt of the selling. The S&P 500 Index declined 1.9 percent while the Dow Jones Industrial Average and Russell 2000 sank at least 2.5 percent.