By Josh Beckerman 
 

Uber Technologies Inc. fell 4% to $40.52 during Friday's shortened session, while Lyft Inc. was down 5% at $42.40, on a day of broad declines amid concerns about a new Covid-19 variant.

A Wednesday ruling by the Brussels Appeals Court was expected to result in the shutdown of most Uber service in Brussels, effective Friday evening. According to Politico Europe, Brussels officials said Friday that they had reached an agreement on taxi law reform.

Uber's stake in Chinese ride-hailing company Didi Global Inc. was a factor in Uber's $2.42 billion third-quarter loss. Bloomberg reported Thursday that China asked Didi to come up with a plan to delist in the U.S.

In 2020, Uber and Lyft suffered sharp declines in ride-hailing, while the Uber Eats service gained popularity.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

November 26, 2021 14:26 ET (19:26 GMT)

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