Dow sinks 200 points following news of new coronavirus strain

[mystery-ak]

Dow sinks 200 points following news of new coronavirus strain
By Niv Elis - 12/21/20 09:49 AM EST

Stock markets dropped early Monday following an announcement that a more contagious new strain of the coronavirus had spread in London and other parts of England.

The Dow Jones Industrial Average was down 200 points, or 0.7 percent, and the S&P 500 fell 36 points, or 1 percent.

The U.K.’s announcement that the new strain was as much as 70 percent more contagious has led to flight cancellations and border closures, and raised concerns that the pandemic could become harder to control.

The losses also follow a deal in Congress on a $900 billion COVID-19 relief package that will extend and expand emergency unemployment benefits, include a round of $600 stimulus checks and provide small business relief.

While markets have been watching stimulus negotiations for weeks, the agreement appeared to be eclipsed by the new U.K. strain of the coronavirus.

https://thehill.com/policy/finance/531112-dow-sinks-200-points-following-news-of-new-coronavirus-strain

[rustynail]

It is not a new 'strain' it is how they work.  Kill the host that 'strain' goes away.

Don't kill the host that 'strain' thrives.

[catfish1957]

Markets are stabalizing at about a general 1% loss for today.  Think markets are more reacting to the 4% drop in crude today vs  any CV-19 news.

[IsailedawayfromFR]

I thought the euphoria of electing Biden was going to break market records in the positive, not negative direction?

[libertybele]

I thought the euphoria of electing Biden was going to break market records in the positive, not negative direction?

Sloe Joe will ensure that the economy collapses by insisting on shutting down again.  Our only hope is if governors refuse. He might sue states just like Bammy did with AZ.  With our whimpy SOCTUS and the DEMS packing the courts I see little chance of state's winning fights. I think we may see states collectively try to secede.  It will be up to "We the People" to fight back.

The markets will tank. 

If anyone thinks that we are going to see another election or retain our Republic under Biden, they are dreaming.