Following the Dow Jones Industrial Average’s worst daily drop of the year, market experts were split on whether Friday was a better purchasing moment. The index fell over 900 points, while the broader S&P 500 index fell 2.27%.
Concerns over a new COVID type discovered in southern Africa led to market declines in energy, financials, and industrial equities. Concerns about further lockdowns and tougher limitations led to a drop in travel-related stocks on Friday.
In the meantime, stay-at-home trades have recovered: Zoom, a video calling software company, is up more than 7%. During the truncated trading session, Peloton Interactive (PTON), an at-home fitness startup, rose more than 5%.