What originally been a sideline in the news last week, that British scientists had discovered a mutated coronavirus, is now sparking new fears in Europe and the rest of the world. It has been determined that the mutated virus is 70% more contagious but is not any stronger, therefore current hospital care and medications are still good. The island of Britain is now fully isolated with European countries and other countries banning air travel, France is now demanding that truck drivers entering France provide covid tests results of they are not allowed in.
Markets have responded negatively to this news even though Washington has finally reached a second stimulus agreement, there has been a bit of a kneejerk reaction as can be seen with this morning’s ranges in the currencies and equities, it looks like markets are showing some signs of stability with the Dow Jones Industrial Average basically flat.
Expect further volatility.