Investors around the globe are looking to Monday’s early trading for clues to the scale of the threat posed by the emergence of a new Covid-19 variant.
Though occasional sharp reversals have become commonplace during the bull market that started last year after the lockdown-inspired spring market rout, traders and portfolio managers were struck by the ferocity of selling on Friday. U.S. stock trading volume hit the highest level on the day after Thanksgiving in at least 14 years, with the Dow Jones Industrial Average and S&P 500 posting their largest-ever Black Friday declines, falling 2.5% and 2.3%, respectively.
