Wall Street closes sharply lower on new variant fear | Financial Markets News

Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse months of progress at getting the COVID-19 pandemic under control.

The S&P 500 index dropped 106.84 points, or 2.3 percent, to close at 4,594.62. It was the worst day for Wall Street’s benchmark index since February.

The index was dragged lower by everything from banks, travel companies and energy companies as investors tried to reposition to protect themselves financially

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Wall Street’s ‘fear index’ surges by most in 10 months as Dow and S&P 500 set to tumble on COVID variant worries

A measure of implied volatility on Wall Street on Black Friday touched the highest level since around September as futures for the Dow Jones Industrial Average [: DJIA]
and the S&P 500 index
looked set to tumble amid concerns of a fast-spreading strain of coronavirus, which was identified in South Africa, Hong Kong and Israel and was already leading to travel restrictions. The CBOE Volatility Index
jumped by about 40% Friday morning, trading around 25.4, which would mark the highest level for the index since around Sept. 20 and mark the

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Want a 219% Return? Buy This Growth Stock, Says Wall Street

Despite the broad stock market indexes like the S&P 500 and Nasdaq 100 regularly trading near all-time highs, some individual technology stocks are lagging behind. For investors who are sitting on some cash, there are some enticing opportunities. (NYSE:AI) is a first-of-its-kind enterprise artificial intelligence (AI) developer, selling everything from ready-made solutions to custom-built applications to eight of the largest industries in the world. For companies that can’t develop AI in-house, bridges the gap.

Its stock currently trades at $38.25, and one Wall Street firm thinks it could soar 219% to $122. Here’s why.

Image source: Getty Images.

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Wall Street ends flat but Tesla slips further from November peak

Stocks on Wall Street ended a choppy trading session little-changed on Monday, with several of the year’s high-flying stocks including Tesla and Nvidia sliding in value.

The blue-chip S&P 500 share index struggled to find its footing, dipping down into negative territory for much of the day before a late jump left it flat for the day. The technology-focused Nasdaq Composite also rebounded from earlier losses of as much as 0.5 per cent to end the day down less than 0.1 per cent. It was only the third day in the past 16 trading sessions that the Nasdaq Composite has

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Wall Street pros were bullish for 2021, just not bullish enough

It was another tough week in a brutal year for bears. Despite being right about many aspects of inflation, monetary policy and the persistence of the coronavirus, equity bears who were expecting anything to put a meaningful brake on the stock market were again denied.

Investors limped into the week amid incontrovertible evidence price pressures are building in the economy amid a market rally that has sent the S&P 500 up 25% in 2021. Then retail sales jumped the most in seven months, Home Depot Inc. posted stellar results and regional manufacturing measures soared past

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Wall Street Loves These 3 Growth Stocks — Should You?

One of the core tenets of investing that people need to understand before they even begin to put money into stocks is that the market is not always rational. You can generally rely on certain principles to point you in the right direction, but there will be risk in any strategy since the share prices might move in ways that just don’t seem to make sense.

For example, meme stocks have become a feature of the market in 2021, which means that groups of individual small investors can foment excitement about a stock that doesn’t deserve your confidence and jack

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Wall Street Is Finally Getting Access to China. But for How Long?

[Follow live updates on the upcoming meeting between President Biden and China’s leader, Xi Jinping.]

For decades, American banks have been eager to expand their business in China, the world’s second-largest economy. They’re finally getting their way — just as a spiraling corporate debt crisis threatens to rock the country’s financial system and China’s central government takes a stronger hand with big businesses.

In July, Citigroup became the first foreign bank to win approval to open a custody business in China, essentially acting as a bank for Chinese investment funds. In August, JPMorgan Chase got permission from the Chinese

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Wall Street workers set for highest bonuses since 2009

A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon Stapleton

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NEW YORK, Nov 16 (Reuters) – Year-end bonuses for Wall Street staffers are set to be the highest since 2009 this year, with investment bankers and equities traders in line for the biggest bonuses, compensation firm Johnson Associates Inc said on Tuesday.

Overall, incentives at the end of this year, which include cash bonuses and equity awards, will be significantly higher compared with last year, when

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Wall Street bonuses are set to surge at least 20% this year

Compensation consulting firm Johnson Associates is predicting a surge in bonuses for financial service professionals from a year ago, a period where many on Wall Street took home less cash due to the impact the pandemic had on the global economy and dealmaking.

“Virtually all financial services industry segments, including investment banking, asset management and alternative investments are performing at record levels,” Alan Johnson, managing director of Johnson Associates, said in the report.

“This, in turn, will translate into incentive award increases we haven’t seen in the industry since before the Great Recession,” he added.

The biggest bonus jumps are … Read More

Wall Street is set for biggest bonus increases since 2009

The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021.

Brendan McDermid | Reuters

Wall Street is set to see the biggest bonus increases since the Great Recession after a busy and profitable 2021, according to a report from pay consultancy Johnson Associates.

Booming deal activity, a hot IPO market and climbing equities mean bankers and traders are in line for outsized performance-based compensation, the report released Tuesday said.

But the sharp rebound in business activity this year has translated to unprecedented workloads for Wall Street professionals — and a

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