Stocks, oil tumble on virus variant fears, safe havens gain [Reuters]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Reuters
Little is known of the variant, detected in South Africa, Botswana and Hong Kong, but scientists say it has an unusual combination of mutations, may be able to evade immune responses and could be more transmissible. British authorities think it is the most significant variant to date and have hurried to impose travel restrictions on southern Africa, as did Japan, the Czech Republic and Italy on Friday. [nL8N2SH1HS The European Union also said it aimed to halt air travel from the region. “Markets have been quite complacent about the pandemic for a while, partly because economies have been able to withstand the impact of selective lockdown measures. But we can see from the new emergency brakes on air travel that there will be ramifications for the price of oil,” said Chris Scicluna, head of economic research at Daiwa. The World Health Organization is convening an experts' meeting later on Friday to evaluate whether the new variant is a “variant of concern.” Global shares fell
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