Skip to content Skip to footer
Covid 19 delta variant afects global stocks

COVID Delta Variant Affects Global Stocks, All Remaining Restrictions lifted & OPEC+ Increases Increases Output

Rise in Delta variant cases sends global stocks lower

Indices around the globe traded lower to start the week, as markets reacted to the news that cases of the Delta variant of COVID-19 were rapidly rising.

One of the biggest movers was the Dow Jones, which dropped by as much as 850 points Monday, which is its biggest intraday decline since late January.

This comes as the S&P 500 also fell, with the NASDAQ also trading in the red as the U.S. COVID-19 cases rose by 75% last week.

COVID-19 cases have risen to an average of over 30,000 infections in recent days, despite over 70% of the population receiving at least one jab of the vaccine.

As of writing, the Dow was trading 2.65% lower.

FTSE 100 falls despite start of UK “Freedom Day”

Monday was hailed as “Freedom Day” in the United Kingdom, as all remaining COVID-19 restrictions were officially lifted.

Brits are now able to return to nightclubs, and other venues, with no restrictions on capacity, while face masks are no longer mandatory.

Although the restrictions have been lifted, Prime Minister Boris Johnson urged people to remain cautious, as cases of COVID-19 once again soar.

The PM stated that, “This is the right moment, but we’ve got to do it cautiously. We’ve got to remember that this virus is sadly still out there”.

Cases have risen to over 50,000 per day in the UK, as the Delta variant of the virus spreads, as more and more Brits began to socialise in recent weeks.

London’s FTSE 100 closed 2.34% lower today.

Oil prices tumble as OPEC+ increase output

Almost 3-weeks after OPEC and its allies held their monthly meeting, which was then cancelled, the cartel today confirmed that output levels have been agreed upon.

OPEC+ which includes Russia agreed to increase supply by 2 million barrels per day, from August to December 2021.

After cutting output by as much as 10 million bpd during the peak of the pandemic, the cartel gradually increased supply as demand for energies picked up in 2021.

Despite this, production is still around 5.8 million bpd lower, than it was pre-pandemic.

WTI crude fell to an intraday low of $66.19 on the news, which is its lowest level since May.

Quote of the day -“I know where I’m getting out before I get in.”

– Bruce Kovner

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.