NEW YORK CITY (NBC) – U.S. stocks are down drastically Friday.
After the opening bell, the Dow Jones Industrial Average dropped more than 1,000 points, or nearly 3% of its value.
Likewise, the S&P 500 and the Nasdaq Composite were both off more than 2% in trading Friday.
The selloff was largely driven by fears about a new COVID-19 variant that’s been detected in South Africa.
Travel-related stocks suffered some of the worst hits.
On the flip side, vaccine makers Moderna and Pfizer saw big gains Friday.
Markets close at 1 p.m. Eastern Friday due to the Thanksgiving Holiday.