Stocks fall, havens rise as a new variant of COVID-19 scares investors

Kaleida Health updates visitor guidelines for non-COVID patients

Register Register now for FREE unlimited access to reuters.com “The trigger was news of this COVID variant…and the uncertainty as to what this means,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney. “You shoot first and ask questions later when this sort of news erupts.”

The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on South Africa. read more SYDNEY, Nov 26 (Reuters) – Stocks fell and headed for their largest weekly drop in nearly two months on Friday, while safe haven assets such as bonds and the yen rallied as a new virus variant added to swirling concerns about future growth and higher U.S. interest rates.

South Africa’s rand fell 1% in early trade, as did U.S. crude futures . S&P 500 futures fell 0.4%, while the risk-sensitive Australian and New Zealand dollars dropped to three-month lows. Register

British authorities think it is the most significant variant to date and worry it could resist vaccines. Moves in Treasuries were sharp at the open in Tokyo – following the Thanksgiving holiday – as yields quickly pulled back some of the week’s gains. Benchmark 10-year yields fell 5 basis points to 1.5927%. Little is known about the new variant. However scientists told reporters it has “very unusual constellation” of mutations, concerning because they could help it evade the body’s immune response and make it more transmissible. read more

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.2% for a weekly fall of 1% and world stocks (.MIWD00000PUS), while still near record highs, headed for a weekly fall of 0.7%, the largest since early October. Japan’s Nikkei (.N225) was down 1.7% in early trade and Australian shares (.AXJO) fell 0.6%.

The News Highlights

  • Stocks fall, havens rise as a new variant of COVID-19 scares investors
  • Check the latest Health news updates and information about health.
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