Global Markets Drop on Concerns Over New Covid-19 Variant

Global equity markets and U.S. stock futures fell after South Africa raised the alarm over a new, fast-spreading strain of the coronavirus.

By early afternoon Friday in Hong Kong, the city’s benchmark Hang Seng Index stood 2.2% lower, while Tokyo’s Nikkei 225 closed down 2.5%. Australia’s S&P/ASX 200 pulled back 1.7%.

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