Concerns over new virus, markets see a bloodbath

Equities saw a sharp correction as the benchmark Nifty and Sensex plummeted 3% each on Friday. Nifty breached the 17,000 mark, however, it closed a little above that level, falling 2.9% to 17,026. A level that was last seen in August 2021. Sensex gave up 1,700 points. Here are the top developments across the globe in terms of the latest Covid situation:

• The new variant carries an unusually large number of mutations and is “clearly very different” from previous incarnations.
• WHO said they are monitoring a new variant and have called for a special meeting.
• U.K. will temporarily ban flights from South Africa and five neighboring countries
• Hong Kong has already found two cases of the new variant in visitors.
• Indian Healthy Ministry writes to states calling for tighter screening of travellers.
• EU cases continue to rise, reporting a million new infections about every two days and now accounting for nearly two-thirds of new infections worldwide.
• Germany continues to see a surge reaching the grim milestone of 100,000 Covid-19 deaths. In an effort to slow the spread of the virus, authorities this week began requiring a health pass to go to work or use public transport.

Also read/watch: Centre issues alert over the new Covid-19 variant found in South Africa