Stock market

The U.S. stock market suffers ugly Black Friday selloff. Here are the biggest losers (and the winners). – MarketWatch

Summary

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,
-2.53%,
the S&P 500 index
SPX,
-2.27%
and the Nasdaq Composite
COMP,
-2.23%
were all down by at least 2% for the day, the major U.S. shopping day know…….

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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,
-2.53%,
the S&P 500 index
SPX,
-2.27%
and the Nasdaq Composite
COMP,
-2.23%
were all down by at least 2% for the day, the major U.S. shopping day known as Black Friday on which retailers are traditionally perceived to enter the black for the year.

Looking beneath the hood, the damage was widespread.

Energy stocks

The S&P 500’s energy sector
SP500.10,
-4.04%
closed down 4% as crude-oil prices
XLE,
-4.02%
trading on the New York Mercantile Exchange saw double-digit percentage declines.

The Energy Select Sector SPDR Fund
XLE,
-4.02%
was down 4%. The fund was led by declines in APA Corp.
APA,
-8.28%,
Occidental Petroleum
OXY,
-7.22%,
Devon Energy Corp.
DVN,
-5.30%
and Marathon Oil Corp.
MRO,
-6.71%.

Financials

Financials were the second worst Black Friday performer among the 11 sectors in the S&P 500 index
SPX,
-2.27%,
dragged down by a retreat in yields for Treasurys, notably the 10-year Treasury note
TMUBMUSD10Y,
1.479%.

The S&P 500’s financial sector
SP500.40,
-3.27%
was off 3.3%. The Financial Select Sector SPDR ETF
XLF,
-3.32%,
which tracks the sector index, was being led lower by declines in American Express Co.
AXP,
-8.62%,
Comerica Inc.
CMA,
-5.80%,
Huntington Bancshares Inc.
HBAN,
-5.99%,
Wells Fargo & Co.
WFC,
-5.61%
and Invesco
IVZ,
-5.24%.

Drug stocks

Drug manufacturers rose, with shares of Moderna
…….

Source: https://www.marketwatch.com/story/the-u-s-stock-market-suffers-ugly-black-friday-selloff-here-are-the-biggest-losers-and-winners-11637952898