DAILY MARKET UPDATE

November 26, 2021

Risk off trade momentum built after dozens of countries restricted travel to and from South Africa and neighboring nations, hoping to contain a fast-spreading new Covid variant that may be more contagious and potentially evade current MRNA vaccines. Asia Pacific stock markets fell 2-3%, EU bourses swooned 3-4% and major North American equity indices traded down ~2%. Stocks, oil prices and government-bond yields slumped alongside selling in the U.S. dollar. Futures markets saw expectations for multiple Fed rate hikes in 2022 pared back modestly. The VIX jumped 55% to 28.75. Those familiar ‘stay at home names“ like Zoom, Teledoc and Peloton saw a surge of buying while epicenter groups like travel and leisure saw declines in the order of 5-10% or more.

Markets:

* Nikkei -2.53%

* Shanghai Composite -0.56%

* Hang Seng -2.67%

* DAX -4.15%

* FTSE -3.64%

* CAC -4.75%

* DJIA -2.53%

* S&P 500 -2.27%

* Nasdaq -2.23%

* Russell 2000 -3.67%

BSD Global Tech Hedge Fund +0.30%