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.
Deirdre Bolton and Diane Swonk join"This Week’" to break down inflation.NEW YORK -- Stocks fell sharply Friday, with the Dow Jones Industrial Average down more than 1,000 points, as a newvariant from South Africa appeared to be spreading across the globe. It added to investor uncertainty about potentially reversing months of progress at getting the COVID-19 pandemic under control.
There have been other variants of the coronavirus before — the delta variant devastated much of the U.S. throughout the summer — and investors, public officials and the general public are jittery about any new variant that's spreading. It's been nearly two years since COVID-19 emerged, which has killed more than 5 million people around the globe.
Fearful of more lockdowns and travel bans, investors moved money into companies that largely benefited from previous waves, like Zoom Communications for meetings or Peloton for at-home exercise equipment. Peloton shares were up 5% while Zoom was up roughly 7%.
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Dow futures plunge 400 points amid fears of new Covid variant found in South AfricaU.S. stock futures dropped in overnight trading on Thursday amid renewed Covid fears over a new variant found in South Africa.
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Britain alarmed by new COVID-19 variant spreading in South AfricaBritain on Thursday said it was concerned by a newly identified coronavirus variant spreading in South Africa that might make vaccines less effective and imperil efforts to fight the pandemic.
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Explainer: What we know about the COVID-19 variant detected in South AfricaGlobal authorities have reacted with alarm to a coronavirus variant detected in South Africa, with the EU, Britain and India among those announcing stricter border controls as scientists seek to determine if the mutation is vaccine-resistant.
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EXPLAINER: What is this new COVID variant in South Africa?South African scientists have identified a new version of the coronavirus this week that they say is behind a recent spike in COVID-19 infections in Gauteng, the country’s most populous province.
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How tech injects new life to the health sector in South Africa - CNN VideoHealth tech startups in South Africa are helping patients get the care they need without ever leaving home.
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