Free Trial

Stocks Sag on New COVID Strain, Tesla Inclusion

EQUITIES

Equities across Europe and the US sagged Monday, with European indices the most hard it on escalating reports of a new, more infectious, COVID strain emanating from the South-east of England. European stocks closed lower by 2-3% apiece, with the US slipping around 0.8-1.0%.

Tesla's debut in the S&P500 was uninspiring, with the stock slipping just over 5% after a firm rally late last week. As one of the S&P500's largest components, Tesla's underperformance dragged on the headline indices.

Energy and utilities names saw the largest declines, with losses minimized in financials, which was the only sector to post gains Monday.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.