• Chart shows how quickly the new coronavirus variant spread in part of South Africa, totally supplanting Delta

    5 days ago - By Business Insider

    A chart showing different coronavirus variants over time in part of South Africa. An arrow, added by Insider, points out the blue spike representing, B.1.1.529, which became dominant within 2 weeks over the Delta variant. South Africa Health Department/Insider
    A new coronavirus variant, B.1.1.529, has spread rapidly in South Africa.
    A chart from the country's Health Department shows how it shot to dominance in one province.
    The variant's high level of mutations to the spike protein is causing concern for scientists.
    A chart from South African officials shows how a new coronavirus variant...
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  • Oil tumbles by the most in 4 months after new Covid variant heightens fears over global demand outlook

    5 days ago - By Business Insider

    Oil wells at near Moorpark, California. David McNew/Getty Images
    Oil fell by more than 6% on Friday, as investors ditched riskier assets after the emergence of a new Covid variant.
    Both Brent and WTI futures were heading for their largest one-day fall since mid-July this year.
    "We can very, very quickly go from a very tight market to an oversupplied market," Saxo Bank's Ole Hansen said.
    Oil prices were already heading for a weekly loss, after the United States released some crude from its Strategic Petroleum Reserve to try to temper sky-high energy prices. But after South African...
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  • 'A black Black Friday': Here's what analysts are saying as global stocks plunge on fears about new COVID variant

    5 days ago - By Business Insider

    Global stocks plunged Friday. Andrew Burton/Getty Images
    Global stocks are cratering after a new, highly mutated COVID variant was discovered in South Africa.
    Analysts said volatility would be worsened by poor liquidity, with US trading limited by Thanksgiving.
    Another said investors are simply taking no chance as they wait for more details about the new variant.
    Global stocks are being hammered on Friday after a new, heavily mutated COVID variant was identified in South Africa, causing countries to limit travel and sparking fears of another wave of cases. Scientists are racing to find out...
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  • Stocks crash over new Covid variant fears

    Stocks crash over new Covid variant fears

    5 days ago - By RT

    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.
    Chinese, Japanese and Indian stocks dropped. The Shanghai Composite Index lost 0.56%, the Nikkei 225 in Tokyo tanked by 2.5%, while the Hang Seng in Hong Kong had plunged 2.67% as of 08:20 GMT.
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  • Global stocks sink after South Africa finds virus variant

    Global stocks sink after South Africa finds virus variant

    5 days ago - By Stl Today

    BEIJING - Global stocks and oil prices tumbled Friday after South Africa found a fast-spreading coronavirus variant and the European Union proposed suspending air travel from southern Africa.
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  • Europe considers a flight ban on southern Africa over new coronavirus variant rapidly spreading there

    5 days ago - By Business Insider

    European Commission President Ursula von der Leyen. Reuters
    A new coronavirus variant - B.1.1.529 - is rapidly spreading in southern Africa.
    It's prompting the European Commission to consider a flight ban from the region.
    The UK restricted travel to and from six southern African countries on Thursday.
    The European Union is considering an "emergency brake" flight ban on southern African countries, citing a new coronavirus variant rapidly spreading there. "The EU Commission will propose, in close coordination with Member States, to activate the emergency brake to stop air travel from the...
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  • Global shares slammed by fears over new COVID variant, as Dow futures lose 900 points and South African rand hits 1-year low

    5 days ago - By Business Insider

    The Pfizer-BioNTech COVID vaccine. Jennalynn Fung
    Global equities tumbled Friday after a new variant of COVID-19 that could prove more transmissible emerged in South Africa.
    The South African rand plunged to a one-year low against the dollar, while safe havens such as gold and the Swiss franc soared.
    Dow Jones futures fell by 900 points, suggesting a drop at the start of trade in the holiday-shortened session later.
    Global shares tumbled Friday after the emergence of a new COVID-19 variant sent investors fleeing riskier assets, driving the South African rand to a one-year low, and lifting...
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