Will a New COVID-19 Variant Sink These Long-Struggling Stocks for Good?
Black Friday might not have created the same level of stock market discomfort that prompted the naming of Black Tuesday in 1929 or Black Monday in 1987, but stocks were nonetheless under pressure on the day after Thanksgiving. As of 10 a.m. ET on the holiday-shortened session, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 790 points to 35,014. The S&P 500 (SNPINDEX: ^GSPC) had lost 73 points to 4,628, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) had fallen 212 points to 15,632.
A new COVID-19 variant in South Africa prompted worries among investors across the globe. Market participants had already been concerned about a sharp rise in case counts in Europe, with correspondingly poor trends in the U.S. as well. Now, many fear that new restrictions on travel and other activities could bring about a return to conditions in 2020.
That's especially bad news for cruise ship operators, which have struggled just to sustain themselves financially in the hope of getting passengers on board throughout 2022.
Source Fool.com
