Dow Futures Tumble As New COVID Strain Found in Britain

Daily Updates

The Monday Market Minute

  • Global stocks slide as Britain identifies a new COVID variant that triggers strict lockdown orders for London and travel restrictions with the rest of Europe.
  • Prime Minister Boris Johnson says the new variant is 70% more transmittable than its predecessor, and may already be active in other parts of the world.
  • U.S. lawmakers agreed a $900 billion coronavirus relief package late Sunday, with votes in both the House and the Senate expected later today.
  • The U.S. dollar index surges in defensive trading overnight, while gold hits a six-week high of $1,896.00 per ounce.
  • Tesla shares slide ahead of S&P 500 debut after closing at a record high $695 per share in active Friday trading.
  • U.S. equity futures point to steep opening bell declines on Wall Street Monday heading into a holiday shortened week that includes an early close on Thursday afternoon.

U.S. equity futures fell sharply Monday, while the dollar rallied and gold traded at a six-week high, as markets reacted to the discovery of a new coronavirus variant in the United Kingdom that spreads more quickly, and could be more dangerous, than its predecessor. 

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