FirstFT: Stocks and oil prices sink as new coronavirus variant spooks markets


Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning

Good morning. I hope you had a good Thanksgiving. As you will have noticed, we took the day off to mark this holiday, but are glad to be back with you today.

Global stocks and oil prices tumbled on Friday as investors dashed for shelter in haven assets after a new coronavirus variant shook market sentiment.

A broad sell-off in European shares followed similar moves in Asian markets. Europe’s Stoxx 600 fell 3.1 per cent in early trade, with France’s CAC 40 index and Germany’s Dax 30 down by similar margins.

The B.1.1.529 Sars-Cov-2 variant, first identified in Botswana, is believed to be behind a surge in Covid cases in southern Africa over the past week and has alarmed global health officials because of its apparent ability to evade vaccines and spread…

Read more…