Stock futures, oil fall due to concerns over new Covid-19 variant

Equities, oil prices and government bond yields fell after South Africa sounded the alarm over a rapidly spreading strain of coronavirus, sparking concern that travel restrictions and other restrictions would ruin the global economy’s recovery.

Futures pointed to losses of around 1.6% for the S&P 500 and 2.2% for the Dow Jones Industrial Average when the US stock market opened for a holiday-shortened trading session on Friday. Brent oil fell 5.3% to below $ 77 per barrel. barrel, which put the global energy benchmark on track for its biggest loss in one day since July, as traders worried that movement limits could reduce demand for transport fuels. Bitcoin slipped 8.9% to below $ 54,000.


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