Stocks and oil prices fall as new Covid variant spooks markets

Oil prices and prices plummeted on Friday as concerns for global investors mounted on the new Covid-19, which has prompted the UK to impose tougher sanctions on southern Africa.

The biggest equity sell-off is led by the Tokyo Topix index benchmark, which fell 2.4% on Friday after Friday. UK has banned direct flights from six countries including South Africa until private hotels had become operational.

Future futures caused US stocks to drop 1 percent while markets opened up on Wall Street later in the day, while London’s FTSE 100 and Stoxx 50 European indexes both expected to drop by about 2 percent.

In Hong Kong, where two separate cases have been confirmed, the Hang Seng index dropped to 2.2% amid concerns that the crisis could delay the global economic recovery and exclude Asian economic centers, which have one economic center. the world’s most complex social security systems.

“I look in my window today and there is nothing green – all is red,” said Andy Maynard, a Hong Kong-based retailer at China Renaissance. “It’s all in this Covid’s tail.”

Travel shares were among the worst-hit, with Japan Airlines dropping to 6.6 percent and Hong Kong flag bearer Cathay Pacific lost 3.6% over concerns over increased international sanctions.

The genus B.1.1.529 Sars-Cov-2, first identified in Botswana, is believed to have contributed to the spread of Covid in southern Africa last week. they avoid vaccination and spread faster than the Delta species.

Israel has also banned travelers from South Africa, and the World Health Organization will hold an emergency meeting on Friday to discuss the issue, which has been described as a “very difficult one” for researchers.

In monetary terms, the new travel restrictions have pushed the South African rand to 1.7 per cent to about R16 against the dollar, making the currency weaker over the past year as the country faces the prospect of ruining the tourist season this year.

Other currencies coming in, including the Mexican peso and the Turkish lira, fell almost immediately.

In the stock market, concerns over global trade volatility affected oil prices, while Brent global oil prices fell by 2.3% to $ 80.34 a barrel. US marker West Texas Intermediate fell 2.9% to $ 76.14.

Original Article reposted fromSource link

Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @

I assure you that, I will remove the infringing content Within 48 Hours.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Can EU’s Global Gateway strategy compete with Beijing? | European Union

Movie Time 25 minutes 15 seconds 25:15 From: Internal Issue The European Union’s strategic direction is seen as a challenge for the China Belt and Road Initiative. The European Union (EU) has established a system that is described as a global financial system. The Global Gateway route seems to be a challenge for China’s Belt […]

Read More

Blinken warns Russia of ‘severe costs’ if it invades Ukraine | Crimea News

US Secretary of State Antony Blinken has warned Moscow of “high prices and potential consequences” for the offensive in Ukraine, and urged his Russian counterpart to withdraw from the crisis. Blinken on Thursday issued a warning to Russian Foreign Minister Sergey Lavrov over what he called ” “true” meeting. in Stockholm, Sweden. He announced that […]

Read More

Olaf Scholz eyes Joachim Nagel to run Germany’s Bundesbank

Joachim Nagel, chief executive of the Bank for International Settlements, has taken over the position of head of the German central bank in one of the first positions by the next coalition government, according to an expert on the matter. Nagel, 55, who had spent a long time at Bundesbank before joining the BIS as […]

Read More