Dow futures drop more than 800 points on fears of new Covid variant found in South Africa

dow futures drop more than 800 points on fears of new covid variant found in south africa

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.

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