Sumary of Stocks crash over new Covid variant fears:
- European and Asian stock markets plunged on Friday following reports of a new Covid-19 strain from South Africa, which, investors fear, could result in new travel curbs.
- “There is fear of this new variant spreading to other countries which might again derail the global economy… So the markets might continue to reel under pressure and would actively track the Covid situation globally,” Hemang Jani of Motilal Oswal Financial Services told CNBC.
- Reports of the new and possibly vaccine-resistant “super mutant” Covid-19 variant, dubbed B.
- EU wants air travel ban over ‘super mutant’ Covid strain Countries have widely used travel restrictions to slow the spread of Covid-19 since the start of the pandemic last year.