F&O in the press – New Covid-19 variant triggers heavy selling

Covid-19 news


Today’s Guardian leads with breaking news of a new Covid-19 variant and the consequences for global equity markets.

Early readings from trading in futures contracts points to rough session ahead, with traders concerned of a revisit to the dark days of ‘lockdown’.

The government’s go-to strategy for thwarting the spread of coronavirus has been to implement stay-at-home rules including working from home and home-schooling, coupled with the closure of offices, shopping centres, pubs, restaurants, cinemas and gyms. Can the economy, businesses and families afford another national lockdown?

The Guardian – 26th November 2021
“We expect heavy selling action this morning as traders de-risk amid the discovery of a new covid variant. The FTSE is called lower by some 200pts, Dow Jones futures are trading 800pts lower. Expect double-digit losses in travel and tourism stocks. Oil stocks will also trade lower, tracking declines in underlying crude prices.”1
Marc Kimsey, Frederick & Oliver.

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1 – Source: https://www.theguardian.com/business/live/2021/nov/26/stock-markets-shares-oil-covid-variant-ftse-sterling-rand-business-live

By Marc Kimsey

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