Black Friday Selloff • COVID Concerns • REITs On Sale

November 26, 2021 | Hoya Capital

Black Friday Selloff • COVID Concerns • REITs On Sale Daily Recap Nov 26 Written By Summary U.S. equity markets were sharply lower in the post-Thanksgiving shortened session as concerns over the emergence of another COVID variant rattled markets and sent economically-sensitive asset classes tumbling. Posting its largest one-day decline since February, the S&P 500 finished off by 2.3% today while the Mid-Cap 400 dipped 3.1% and the Small-Cap 600 finished lower by 3.9%.

Real estate equities couldn't escape the selling pressure either as the Equity REIT Index dipped 2.8% today with all 19 property sectors in negative territory. Concerns over the new COVID variant - which some scientists speculate could be more transmissible than past variants - have already prompted a fresh wave of economic and travel restrictions across Europe and Asia. Nearly 70 REITs were lower by at least 4% on the day with the COVID-sensitive REIT sectors - retail, office, and hotels - under the most pressure with more than a dozen REITs lower by at least 7% on the session.

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U.S. equity markets were sharply lower in the post-Thanksgiving shortened session as concerns over the emergence of another COVID variant rattled markets and sent economically-sensitive asset classes tumbling. Posting its largest one-day decline since February, the S&P 500 finished off by 2.3% today while the Mid-Cap 400 dipped 3.2% and the Small-Cap 600 finished lower by 3.9%. Real estate equities couldn't escape the selling pressure either as ...