Skip to content

Stocks Sink With Oil on Virus Woes; Havens Rally: Markets Wrap

  • S&P 500 tumbles most since February; oil drops below $70
  • New virus variant sparks travel curbs, fears of economic shock
Video player cover image
Markets Had Covid in Rearview Mirror, Strategist Riley Says
Updated on

U.S. stocks slid in a selloff across global markets amid growing fears a new coronavirus variant identified in South Africa could spark fresh outbreaks and scuttle a fragile economic recovery. Haven assets surged. 

It’s the worst post-Thanksgiving performance for the S&P 500 since 1941, when President Franklin D. Roosevelt signed a bill to officially establish the fourth Thursday in November as a national holiday.