The first trading day of 2021 sees U.S. equities nosedive. The decline is the S&P 500’s biggest since 2016 while the Dow suffered its worst open in five years. All eyes are on the state of Georgia where voters go to the polls to decide control of the U.S. Senate. Meanwhile in the UK, Prime Minister Boris Johnson is banking on a successful roll-out of the Covid vaccine after plunging England into a third national lockdown with schools and universities shut. And Hong Kong markets surge higher after the NYSE goes against President Trump’s executive order to delist three of the largest Chinese telcos. In energy news, Opec and its allies disagree over output hikes. Saudi Arabia wants to hold firm but Russia says it’s time to ramp up production.

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