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AP National Business

Stocks sink on new COVID variant; Dow Jones loses 900 points

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KMIZ

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Published 9:05 AM

By KEN SWEET and PAUL WISEMAN

NEW YORK (AP) — Stocks are sharply lower on Wall Street Friday after South Africa found a fast-spreading coronavirus variant and the European Union proposed suspending air travel from southern Africa. The Dow Jones Industrial Average dropped more than 890 points after an hour of trading. The S&P 500 index was down 1.9%, on pace for its worst day since late September and the Nasdaq composite is also dropping. Travel and energy stocks are among the biggest losers, with Royal Caribbean, Carnival and Norwegian Cruises all off about 10%. The New York Stock exchange closes early at 1 p.m. Eastern.  

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