Snippets Markets Morning Call

The Snippets Morning Call: A Snippet flash of the markets at this hour

The Snippets Morning Call – [Friday, Nov. 26] – Black Friday has markets operating with significant lows after the discovery of a new Covid-19 strain.

Asian equities, Wall Street futures, newly opened European markets, US Treasuries, and Crude Oil are all falling sharply on Black Friday. Markets fear a new strain of Covid-19 discovered in southern Africa, which may bring a new wave of fears and uncertainties to global markets.

MSCI’s Asia-Pacific stocks indicator posted its worst decline since March, with Japan and Hong Kong marking the biggest declines on the continent.

The World Health Organization and scientists in South Africa are studying the newly identified variant, described as very different from previous versions and a cause for great concern. The UK and Israel have banned flights from South Africa and some neighboring countries. Hong Kong has confirmed two cases of this new strain.

The dollar hit a 16-month high while South Africa’s rand moved in the opposite direction. US markets, closed on Thursday for Thanksgiving, will have a shortened session due to Black Friday.

The detection of the new strain appears at the top of market concerns. Until then the market had been worried about high inflation and the prospect of a faster exit from expansionary monetary configurations. Global equities have risen about 16% this year, resisting a myriad of risks after investors poured nearly $900 billion into stock exchange-traded funds, surpassing the combined total of the past 19 years.

In China, regulators have asked Didi Global’s top executives to craft a plan to withdraw from US exchanges, rekindling fears about Beijing’s intentions for its giant tech industry.

The Chinese economy continued to slow in November, with car and home sales falling again as the housing market slump drags on, according to Bloomberg’s eight-gauge aggregate index.

Indices of the main markets at this hour:

🇺🇸 S&P Futures -1,95%
🇩🇪 DAX -2,89%
🇺🇸 Nasdaq 100 -1,18%
🇬🇧 FTSE -2,94%
🇫🇷 CAC -3,69%
🛢 Oil Brent -5,64%
🛢 Oil WTI -6,60%
💵 US$/BRL$ -0,61%
🇺🇸 S&P VIX +15,20%
🇧🇷 EWZ -2,48%
🇺🇸 US Tech -1,24%

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