- US Stocks fell in a global selloff as fears grew that a new coronavirus type discovered in South Africa might trigger new outbreaks and jeopardise the fragile economic recovery. The value of haven assets soared.
- It's the S&P 500's worst post-Thanksgiving performance since 1941, when President Franklin D. Roosevelt signed a bill making the fourth Thursday in November a national holiday.
- The Russell 2000 index fell 3.7%, and the Nasdaq 100 index fell to its lowest close in nearly two weeks. Stocks in the travel and leisure sector fell, while those in the stay-at-home sector rose. The Stoxx 600 index in Europe fell 3.7%, the highest since June 2020. For the first time since late September, oil dipped below $70 a barrel in New York.
- Treasury yields jumped on haven bids, with the 10-year yield falling to its lowest level since March 2020 on a closing basis, as traders pushed back bets on the Fed raising rates.
- With the dollar sinking, the Japanese yen emerged as the main safe-haven currency of the day.
