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Stocks drop over new Covid variant
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Stocks drop over new Covid variant

Stocks drop over new Covid variant. Drop follows spread of new South African variant.

Where: United States

The Facts

On Friday, stocks dropped as the new coronavirus variant first detected in South Africa appeared to be spreading across the globe.

The Dow Jones Industrial Average fell over 900 points.

The S&P 500 Index dropped 106.84 points (2.3%) to close at 4,594.62. It was the worst day for the index since February.

Oil prices fell around 13%, dragging down energy stock – Exxon shares fell 3.5%, and Chevron fell 2.3%.

Blue-chip stocks closed down 905.04 points to end the day at 34,899.34. The Nasdaq Composite lost 353.57 points (2.2%)

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