US Markets Open Lower Today Amid Increasing COVID Lockdowns

US stocks slid from their Monday gains this morning after COVID-19 lockdowns were announced in Europe.

The Dow fell 103 points to 32,628 (-0.11%) while the S&P 500 skid 6 points to 3,934 (-0.11%). The Nasdaq has dropped 29 points, down to 13,348 (-0.22%). This seems to be largely in response to Germany’s imposed lockdown after COVID-19 numbers spiked in the nation.

European stocks took a hit as a result of the news, with Europe’s Stoxx 600 dropping half a point to 423.67 (-0.12%). London’s FTSE 100 Index fell 15 points to 6,710 (-0.24%) while the DAX reversed course and gained 20 points to 14,677 (+0.14%). 

Cryptocurrency continues its period of high volatility, with Bitcoin resting at around $55,000 in value. Ethereum in up $23 in today’s market, likely in response to the closing of Twitter CEO Jack Dorsey’s sale of his first ever tweet, which used Ethereum and the new NFT system as the exchange currency. Ethereum is currently valued at $1,707 (+1.5%).

The 10-year US Treasury bond yield has continued to fall as investors put concerns about rising interest rates in their rear view mirrors. The yield currently sits at 1.65% at market open, down 0.023 percentage points from yesterday and over 0.1% from its high of 1.774% last week.

Asian markets have followed the worldwide downward trend, with Shanghai’s Composite (SHCOMP) dropping 31 points to rest at 3,411 (-0.93%). The Hang Sang Index (HSI) hemorrhaged nearly 388 points, falling to 28,497 (-1.34%) while Japan’s Nikkei lost 178 points to rest at 28,995 (-0.61%).

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