European stocks slump with travel names hard hit as investors fret over new COVID variant

0
17

European stocks fell sharply early Friday, with heavy losses for travel stocks and energy names after a new potentially highly contagious variant of COVID was detected in South Africa. The Stoxx Europe 600 index SXXP, -2.47% slid 3.8% to 465, with the German DAX DAX, -2.74% down 3.5%, the French CAC 40 PX1, -3.29% sliding 4.3% and the FTSE 100 index UKX, -2.69% down 3.4%. The U.K. has announced it will halt travel from South Africa and several other African countries as of Friday. Shares of International Consolidated Airlines IAG, -9.49% slid 10%, cruise operator Carnival CCL, -9.70% slumped 16% and Deutsche Lufthansa LHA, -9.78% dropped 12%. Energy names also weighed heavily as crude fell more than 5% to $73.91 a barrel. BP shares BP, +0.69% BP, -5.90% fell 8%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Snapshot: Dow futures tumble 400 points on fears over new COVID variant detected in South Africa
Next articleFutures Movers: Crude tumbles on fears of demand hit from new COVID variant as OPEC meeting looms for next week

LEAVE A REPLY

Please enter your comment!
Please enter your name here