Stocks sink on fears of COVID-19 variant; Dow futures off 2%
The Associated Press
NEW YORK (AP) — Global stocks and oil prices have tumbled after South Africa found a fast-spreading coronavirus variant and the European Union proposed suspending air travel from southern Africa. London’s benchmark fell 3% and Tokyo lost 2.5%. Shanghai, Frankfurt and Hong Kong also declined. Dow and S&P 500 futures fell with Wall Street set to reopen for an abbreviated trading session. Some European countries already tightened anti-virus controls this week after their own case numbers spiked. Britain banned flights from South Africa and five nearby countries. Benchmark U.S. crude fell more than 5%. Bond yields tumbled.
