European stocks drop over 3.5% on fears over Botswana Covid variant

2021-11-26 11:35:57 GMT (Economies.com)

European stocks fell fell more than 3.5% on Friday, and hit a 6-week low, amid a broad sell-off wave due to fears over a coronavirus variant, the scientists call Botswana.

 

The Stoxx Europe 600 index fell more than 3.5% as of 08:32 GMT, and hit the lowest since October 14, after it closed higher by 0.4% yesterday.

 

The traveling sector saw the largest loss in Europe today, with a drop of over 5%, as most of the sector companies slumped, following the negative news about the coronavirus variant.

 

The UK warned from the spread of a new variant that was first discovered in Botswana, and scientists confirmed that it contains a high number of mutations.

 

Scientists confirmed that the variant may lead to further spreading of the coronavirus, according to the Independent newspaper.

 

Scientists said that the new variant has 32 mutations in the spike protein, which would help it escape more easily from the human immune system and spread quickly.

 

These negative news come at a time when Europe is facing the spread of the fourth wave of the pandemic, with some countries, such as Austria, re-imposing a full lockdown again.

 

S&P 500 futures fell 2.5% today and hit a 3-week low ahead of Wall Street's opening.

 

Back to Europe, the Euro Stoxx 50 index fell 4.5%, France's CAC 40 fell 4.8%, and Germany's DAX index fell 4%, while the UK's FTSE 100 fell 3.5%.

 
 
 
  Symbol Last Change Chg.%
1.1346
-0.0058
0.5127%
1.3554
-0.0103
0.7569%
Tadawul
12238.77
-35.50
0.29%
24.347
1.336
5.803%
84.900
1.031
1.229%
87.69
-0.69
0.78%
1834.610
14.150
0.777%
 
 
US
 
Europe
 
Asia