U.S. stock futures and crude oil prices slumped on Nov. 30 amid a broader risk-off pivot in markets after Moderna’s CEO said that existing vaccines will be far less effective against the Omicron variant. Tradingview market data from around 5:15 a.m. New York time suggested Wall Street’s main indexes were poised to drop on opening bell later in the day. Futures on the Dow Jones Industrial Average dropped 490 points, or 1.40 percent, S&P 500 futures fell 51.5 points, or 1.1 percent, and Nasdaq 100 futures declined 78.5 points, or 0.48 percent. U.S. oil (West Texas Intermediate) prices fell $1.90 dollar a barrel, or 2.64 percent, as of 5:30 a.m. New York time, while the global benchmark Brent crude slumped $2.19 a barrel, or 2.98 percent. Gasoline futures fell nearly 2 percent. In another sign of a pivot away from riskier assets and toward safe havens, yields on the 10-year U.S. Treasury note slumped …
US Stock Futures, Oil Sink After Moderna CEO Says Existing Vaccines Less Effective Against Omicron
November 30, 2021
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