US Stocks Suffer on Black Friday As Markets React to Travel Bans with South Africa and Other African Countries

 

The US Markets took a huge hit on Black Friday as the world reacts to news of a new type of COVID coming out of Africa.

Market Watch reports:

Wall Street stocks skidded sharply lower on Black Friday as investors reacted to fresh travel bans resulting from the discovery in South Africa of a new variant of the coronavirus that causes COVID-19.

The Dow Jones Industrial Average DJIA, -2.53%, the S&P 500 index SPX, -2.27% and the Nasdaq Composite COMP, -2.23% were all down by at least 2% for the day, the major U.S. shopping day known as Black Friday on which retailers are traditionally perceived to enter the black for the year.

Looking beneath the hood, the damage was widespread.

The uncertainty of this Omicron variant is causing more fear and panic and it shows in the markets today.