Shares and oil falls in the middle of a new coronavirus variant

Mr. Lerner said that a modest sale is hardly unexpected, given the heights the shares have traded at. “We are not making any changes to our investment guide at this time,” he wrote, adding that consumers and companies are much better able to deal with virus restrictions now.

Futures for West Texas Intermediate oil, the US crude oil reference, fell more than 13 percent to $ 68.04 a barrel, the lowest since early September. The price of oil has been particularly sensitive to virus restrictions that keep people at home. The decline comes just three days after the United States and five other countries announced a coordinated effort to exploit their national oil reserves, to try to drive down rising gas prices.

Brent futures, the European benchmark index, fell 11 percent to around 73 dollars a barrel. But Mr. Ganesh said UBS estimates the price will rise to $ 90 a barrel by March, partly in anticipation of fears of new virus restrictions.

Demand for the relative security of government bonds increased, pushing prices up and yields down. The interest rate on the 10-year US Treasury fell 15 basis points, or 0.15 percentage points, to 1.48 per cent, the largest single-day fall since March 2020. The interest rate on Germany’s base, Europe’s benchmark bond, fell 9 basis points to minus 0.34 per cent.

As an echo of last year’s market fluctuations, stocks that flourished rose during lockdowns and quarantines, including Zoom and Peloton. Companies that are vulnerable to travel restrictions, such as Carnival, the cruise line and Boeing, the aircraft manufacturer, fell.

In Asia, the Nikkei 225 in Japan closed 2.5 percent lower and the Hang Seng index in Hong Kong fell 2.7 percent.

In Europe, energy stocks led markets down. The Stoxx Europe 600 index closed down 3.7 percent. The FTSE 100 in the UK fell 3.6 percent, while major stock indices in France and Spain fell around 5 percent.

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