US Stocks Suffer on Black Friday As Markets React to Travel Bans with South Africa and Other African Countries

The US Markets took a huge hit on Black Friday as the world reacts to news of a new type of COVID coming out of Africa.

Market Watch reports:

Wall Street stocks skidded sharply lower on Black Friday as investors reacted to fresh travel bans resulting from the discovery in South Africa of a new variant of the coronavirus that causes COVID-19.

The Dow Jones Industrial Average DJIA, -2.53%, the S&P 500 index SPX, -2.27% and the Nasdaq Composite COMP, -2.23% were all down by at least 2% for the day, the major U.S. shopping day known as Black Friday on which retailers are traditionally perceived to enter the black for the year.

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Looking beneath the hood, the damage was widespread.

We reported earlier today on the NU Covid court of Africa:

New COVID Virus Variant Identified in Africa Is “Highly Transmissible and Vaccine-Resistant”

Biden put in place a travel ban from Africa today.

Joe Biden Bans Travel From South Africa, 7 Other African Nations Due to New “Highly Transmissible” Covid Variant

The uncertainty of this Omicron variant is causing more fear and panic and it shows in the markets today.

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