Dow Futures Plunge Nearly 400 Points As Investors Fear Omicron

U.S. stock futures were down ahead of Tuesday’s opening bell as traders began assessing the potential impact of the new COVID strain, Omicron.

Moderna CEO’s Stephane Bancel stated that the company’s vaccine effectiveness would see a “material drop” against the new Omicron strain.

Keep in mind, that Bancel’s comments come on the heels of Moderna’s Chief Medical Officer claimed that the company would be able to deliver a new vaccine by early 2022.

Level Chg. Chg. %
DOW Futures 34,716.00 -374 -1.07%
S&P 500 Futures 4,611.25 -40.25 -0.87%
Nasdaq Futures 16,311.00 -78.25 -0.48%

U.S. Dollar and Treasuries

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The yield on the 10-year Treasury fell five basis points. The dollar weakened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.73 -0.61 -0.63%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.185% 0.005 0.180%
U.S. 5 Year Treasury Note 1.105% -0.048 1.153%
U.S. 10 Year Treasury Note 1.449% -0.051 1.500%

 

Stocks To Watch

Shares of Moderna dropped after the CEO’s remarks on the efficacy of the vaccine went public. The stock was down 2% after rising 11.80% on Monday.

Its competitor Pfizer, on the other hand, rose in premarket trading. Shares of the drug company rose after dropping almost 3% on Monday.

Travel stocks fell with the market today, as renewed pandemic travel restrictions loom. Cruise operator Carnival Corp lost almost 3% in premarket trading. Norwegian Cruise Line dropped as well, as did American Airlines.

Stocks To Watch

Symbol Company Name Price Chg. % Volume
PFE Pfizer Inc. $53.07 1.28% 717.29K
CCL Carnival Corp. $17.66 -2.75% 714.13K
AAL American Airlines Group Inc. $17.37 -2.09% 642.13K
MRNA Moderna Inc. $359.01 -2.58% 599.36K
NCLH Norwegian Cruise Line Holdings Ltd. $19.60 -3.07% 375.8K

 

Commodities To Watch

Oil dropped with travel stocks due to pandemic fears. Gold strengthened in premarket trading. 

Resource Price Chg. %
WTI Crude Oil $67.87 -2.97%
Brent Crude Oil $70.90 -3.17%
Natural Gas $4.53 -6.67%
Gold $1,791.00 0.49%
Silver $22.78 -0.11%
Copper $4.31 -0.67%

 

Crypto

Crypto markets were stable despite stocks tumbling. The global crypto market cap is $2.65T, a 3.62% increase over the last day. 

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $58,055.12 +1.85% 1.10t
Etherium ETH $4,598.95 +6.70% 543.46b
Binance coin BNB $623.80 +1.09% 93.78b
Solana SOL $214.95 +5.15% 65.38b
Cardano ADA $ 1.60 +1.58% 49.85b

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