Global markets will take a hit on Black Friday amid concerns over a new variant of Covid-19 – but some big names are getting a boost. Here’s what we’re watching:
- Covid-19 vaccine makers Pfizer, Moderna and Novavax jumped as pandemic fears gripped markets.
- Investors appeared to be positioning themselves for more nights, with Netflix and DoorDash stocks rising. Peloton also enjoyed the prospect of more time at home.
- Airlines and cruise lines once again took the brunt of fears about possible new travel restrictions. Delta Air Lines, American Airlines, Southwest Airlines, Carnival, and Royal Caribbean all lost ground.
- Accommodation companies like Marriott International and Airbnb also suffered from the darkness.
- According to a report by Bloomberg News, China’s regulators are urging Chinese ridesharing company Didi Global to remove itself from the New York Stock Exchange.
- Bitcoin’s dollar rate has fallen 8% since Thursday, and crypto stocks like Coinbase and bitcoin miners Marathon Digital and Hut 8 Mining fell with it.
- US crude oil prices are down 7% and energy producers including Occidental Petroleum, Devon Energy and Diamondback Energy have suffered sharp declines.