- A post-Thanksgiving selloff swept throughout global markets, from equities to commodities, as well as safe-haven assets, sending them soaring on concerns that a new coronavirus type discovered in South Africa might trigger new outbreaks and jeopardize the fragile economic recovery.

- The opening bell for the US markets, which were due to return after their holiday break for a limited trading day, drew all attention. The crisis in Asia and Europe will not spare New York markets, according to plummeting futures and a rising fear gauge. Treasury prices rose, implying that traders were hedging their bets on the Federal Reserve's monetary tightening. With the dollar sinking, the Japanese yen emerged as the dominant safe-haven currency of the day.

- The WHO and experts in South Africa are reportedly working at breakneck speed to determine how rapidly the b.1.1.529 variant may spread and whether it is vaccine-resistant. The new danger adds to the growing list of concerns that investors are facing, including rising inflation, monetary tightening, and slowing GDP.

- The WHO will give an update regarding the new Covid variant after their panel meeting finishes; Estimating the impact will take weeks.
- Money markets are pushing back bets on a second 25 basis point Fed hike until 2023.
- The European Commission has stated that it is considering restricting travel from nations where the new COVID virus has been detected.
- Germany's Health Min. Spahn: The situation with coronavirus currently is serious, more so than at any previous moment in the pandemic's history.
- The Japanese government has approved a supplementary budget for FY2021/22 with 36 trillion yen in expenditure and 22 trillion yen in new debt to pay the Covid-19 stimulus package.