Dow posts biggest single-day drop this year as new COVID-19 variant triggers market sell-off

U.S. stocks suffered from some of the biggest single-day declines of the year on Friday as a new, fast-spreading COVID-19 variant detected in South Africa triggered fresh fears that a resurgent coronavirus could scuttle the global economy’s recovery from the pandemic. 

The Dow Jones Industrial Average – after briefly falling more than 1,000 points – ended the day down 905 points, or 2.5%, for its worst drop of the year, while the S&P 500 fell 2.27%, its worst day since February. The Nasdaq Composite dropped 2.23% in the shortened trading session on Friday (U.S. markets close at 1 p.m. ET due to the Thanksgiving holiday.) 

The drop comes after health officials warned of a new variant found in South Africa that has a high

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He took charge of Amazon’s biggest moneymaker. Now he faces a new set of difficulties

Selipsky was no stranger to AWS. He first joined the Amazon cloud computing division in 2005, just before its solutions were even publicly accessible. But in 2016, immediately after 11 a long time with the firm, he left. In the 5 many years he was away running information visualization company Tableau, the company and the field changed substantially, bringing Selipsky a new set of troubles.

Yearly revenue from AWS virtually quadrupled in that time, and the pandemic triggered a huge surge in desire for cloud computing and cloud-primarily based products and services. But the aggressive landscape also intensified. Even though AWS pioneered cloud technological know-how and is the longtime marketplace leader, rivals like Microsoft (MSFT) Azure and Google (GOOGL GOOGLE) Cloud have stolen some of its marketplace share.
In 2019, Microsoft won a agreement to modernize the Pentagon’s IT infrastructure in a deal worthy of as
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Amazon’s biggest, most difficult-to-clear up ESG problem may perhaps be its possess personnel

Amazon warehouse operating disorders and employee injuries have been a consistent supply of rigidity in between the corporate big and its critics. A new security and wellness plan is rolling out to all U.S. internet sites by yr-close as Jeff Bezos’s corporation continues to add a significant amount of money of new workers.

CHRIS J RATCLIFFE | AFP | Getty Pictures

Amazon founder Jeff Bezos elevated a couple eyebrows this summer time when he returned to Earth immediately after a historic area flight in July and gave a speech thanking enterprise staff members and customers, “mainly because you compensated for all of this.” The responses arrived as Amazon, the second-greatest employer in the U.S. just after Walmart, has faced persistent allegations pertaining to place of work security.

The Nationwide Council on Occupational Safety and Overall health bundled Amazon in its “Soiled Dozen” checklist of the most perilous businesses

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