Global Markets Crash over ‘NEW’ Covid Strain
A new, faster mutating Covid variant discovered in Africa has ravaged prospects in travel and oil stocks, as the South African rand also dropped to its lowest value against the dollar in a year.
Front-month oil futures dropped 3.4% to $75.75, while shares in Japan Air, ANA and Qantas all fell between 4.5 and 6.5% as fears grow of potential renewed travel restrictions. Markets in Asia have declined too as they watch Europe’s coronavirus cases spiral into new lockdowns.
ING’s Asia-Pacific head of research Rob Carell admitted “everybody seems to be panicking” about the new strain emerging… but added the market moves might be accentuated by low trading volume.
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A new, faster mutating Covid variant discovered in Africa has ravaged prospects in travel and oil stocks, as the South African rand also dropped to its lowest value against the dollar in a year.
Front-month oil futures dropped 3.4% to $75.75, while shares in Japan Air, ANA and Qantas all fell between 4.5 and 6.5% as fears grow of potential renewed travel restrictions. Markets in Asia have declined too as they watch Europe’s coronavirus cases spiral into new lockdowns.
ING’s Asia-Pacific head of research Rob Carell admitted “everybody seems to be panicking” about the new strain emerging… but added the market moves might be accentuated by low trading volume.
Subscribe to RT News: t.me/rtnews
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