Sumary of Dow futures drop more than 800 points on fears of new Covid variant found in South Africa:
- Futures for the Dow Jones Industrial Average fell 817 points, or 2.3%.
- The United Kingdom temporarily suspended flights from six African countries due to the variant.
- The yield on the benchmark U.S. 10-year Treasury note fell 13 basis points to 1.511% (1 basis point equals 0.01%).
- United Airlines, Delta Air Lines and American Airlines were each down more than 7%.
- Industrials linked to the global economy declined led by Caterpillar off by 3%.
- Treasury yields have climbed this week, putting pressure on high-growth stocks.