(WSJ) S&P 500 futures fell about 1.6%, while the Dow Jones Industrial Average traded 2.2% lower on Friday on fresh concerns of the spread of a new strain of coronavirus from South Africa.
In commodity markets, Brent crude fell by 5.3% to trade below $77 a barrel and on track to make the biggest single-day loss since July.
In crypto, losses were recorded across the board, with Bitcoin falling more than 8% to below $54,000. Ethereum was down to around $4,000.
The rout saw stocks in the airline industry shed, with Delta Airlines, American Airlines, and United Airlines down 7% or more. Oil giants Chevron and Exxon Mobil traded down by at least 4%.
The rout in global markets saw investors rush to safe-haven assets, helping to push the US 10-year Treasury yields down from 1.644% to 1.537%. Gold, also considered a store of value, rose at least 1% to trade at $1,809 a troy ounce.
Stocks of vaccine makers Pfizer and Moderna were Friday gainers, rising more than 5% in premarket. Zoom, Netflix, and DoorDash, which gained traction on stay-at-home orders, traded higher.
The rout in global stocks heightened after scientists raised concerns of the new strain, pointing to its high number of mutations that makes it highly transmissible amid lower response to vaccines. Countries also started imposing restrictions, raising further concerns.
Global markets react. SPY is down -1.56%, DAX is down -7.60%, DXY is down -0.57%, BTCUSD is down -7.54% XAUUSD is up +0.99%.
