The U.S. stock market suffers ugly Black Friday selloff. Here are the biggest losers (and the winners).
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,
Looking beneath the hood, the damage was widespread.
Energy stocks
The S&P 500’s energy sector SP500.10,
The Energy Select Sector SPDR Fund XLE,
Financials
Financials were the second worst Black Friday performer among the 11 sectors in the S&P 500 index SPX,
The S&P 500’s financial sector SP500.40,
Drug stocks
Drug manufacturers rose, with shares of Moderna MRNA,
However, those gains didn’t offer much of a lift to pharmaceutical-related funds, including Invesco Dynamic Pharmaceuticals ETF PJP,
Travel-related stocks
The popular airline-related exchanged-traded fund U.S. Global JETS, which has come to serve as a good indicator of the market’s view on the progress out of pandemic-related restrictions and toward economic recovery, closed down 7.2%.
Aircraft maker Boeing Co. BA,
A separate exchange-traded fund that is sometimes used to represent optimism about changes in activity tied to COVID restrictions, the ETFMG Travel Tech ETF AWAY,
Stay-at-home trade
However, a number of stay-at-home stocks were outperforming the broader market. Videoconference company Zoom Video Communications Inc. ZM,
The Direxion Work From Home ETF, WFH,
Crypto
Crypto prices also were taking it on the chin.
Bitcoin BTCUSD,
Check out: Major cryptocurrencies tumble amid concern about new coronavirus variant
The dollar
Meanwhile, the U.S. dollar was down 0.7% on the session as measured by the ICE U.S. Dollar Index DXY,