(AOF) – Wall Street is expected to drop sharply at the opening in the wake of other global markets. The discovery of a new highly contagious variant has plunged the markets into fear. Several countries have started to close their borders to travelers from areas deemed to be the most risky. Sign of the extreme ambient nervousness, the Vix index, called “of fear”, jumped 40% to reach its highest level since September 20. Markets will close at 7 p.m. KST due to Thanksgiving. Futures on S & P500 and Nasdaq 100 fell 1.7% and 1.06% respectively.
Yesterday on Wall Street
The markets were closed due to Thanksgiving.
No indicator is expected.
The values to follow
Boeing and values related to tourism and transport fell sharply on the pre-stock market due to new restrictions put in place in several countries to stem the spread of the new variant discovered in South Africa. What is more, the Canadian government announced that it had not accepted the file of the American aircraft manufacturer for the supply of 88 fighter planes, for an amount close to 15 billion dollars.
US oil stocks are expected in the red at the opening in the wake of the sharp decline in oil. A barrel of WTI for January delivery drops nearly 6% to $ 73.9, its lowest level in two months. Black gold, like the rest of risky assets, is penalized by the discovery of a new highly contagious variant. Investors fear a drop in demand for oil caused by possible new health restrictions.
General Electric has raised its debt reduction target. On November 10, he planned to reduce its debt by 75 billion dollars between the end of 2018 and the end of 2021. The American conglomerate now expects 80 billion. The group said it is on track to meet its debt reduction targets and achieve single-digit free cash flow margins in 2023.
Merck and partner Ridgeback Biotherapeutics said their oral Covid-19 antiviral molnupiravir reduced the risk of hospitalization or death in at-risk adults with mild to moderate Covid to 6.8%, down from 9 , 7% in the placebo group in the last data update of his study. This equates to a risk reduction of 30%.
The Pfizer and BioNTech laboratories announced Friday that they had launched a study to measure the effectiveness of their anti-covid vaccine on the new variant B.1.1.529. The results are expected in two weeks at the latest. In addition, the American laboratory has said it is capable of developing a new vaccine in 100 days if the new variant is resistant to current treatments.
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