Stocks and oil prices fell on Friday as global investor concern mounted over a new variant of Covid-19 that has prompted the UK to impose harsh travel restrictions on southern African countries.
The sharp sell-off in equities was led by Tokyo’s benchmark Topix index, which dropped 2.4 per cent on Friday after the UK banned direct flights from the six countries including South Africa until quarantine hotels were up and running.
Futures markets tipped US stocks to drop 1 per cent when markets opened on Wall Street later in the day, while London’s FTSE 100 and Europe’s Stoxx 50 indices were both expected to fall about 2 per cent.
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