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. This from thegatewaypundit.com.
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.
As reported earlier on the NU Covid out of Africa:
New COVID Virus Variant Identified in Africa Is “Highly Transmissible and Vaccine-Resistant”
Biden put in place a travel ban from Africa today.
The uncertainty of this Omicron variant is causing more fear and panic and it showed in the markets today.
Shoppers typically bear the brunt of Black Friday frenzy while clamoring over discounted holiday merchandise, but concerns over the new COVID variant gave investors and traders a dollop of holiday volatility Friday. The following from finance.yahoo.com.
The most recently brutal Black Friday took place on Friday November 27, 2009, when concerns over a sovereign debt crisis erupted with news that Dubai World threatened to default on $26 billion in debt.
There were 13 years of .5% Black Friday drops in which the Dow was positive going into Thanksgiving, boasting average returns of 16.9%. Both the average and median gains into year-end for this group were 2.7%. The only year to suffer a decline was 1896 (incidentally, the Dow had only been in use for about six weeks at the time).
A few other eventful years make the list, such as 1987—a time in which the Dow suffered its greatest ever one-day loss of 22.6% on October 19, 1987, dubbed “Black Monday.” After a 1.87% loss on the Black Friday following Thanksgiving, the Dow went on to rally 1.5% into year-end.
Covid concerns and financial worries—at least we know the Biden Regime is in place to handle things properly, yes?
What a crock of sh*t that is. How much longer will we be forced to endure this intentional destruction of our country?
God speed to the powers of right and true.
