Highlights

  • New covid variant described as very different to previous versions
  • U.K. will temporarily ban flights from South Africa 

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Sensex sinks 1000 points as new variant worries infect markets

A gauge of Asia Pacific stocks slid to the lowest since mid-October, with travel shares among the biggest decliners

Stocks fell across the board in Friday's trade as concerns of a new variant raised risk with investors across the globe. Scientists in South Africa are studying a recently identified new coronavirus variant of concern, stoking fears the country may face a potentially severe fourth wave that could spread internationally. Here are the top developments-:

  • 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

Markets in the U.S. were closed on Thursday for the Thanksgiving holiday and will remain shut for trade on Friday as well.

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