Stock tumble as fears over new covid-19 variant grip global market

Wall Street was in a frenzy on Black Friday as stocks around the world tumbled in the face of a new Covid-19 variant.

US equities took a dive at the open and continued their downward path, resulting in a terrible day for the stock market and the worst day for the Dow in over a year. Oil prices were also badly hit. The new variant has been detected in South Africa, Botswana, Hong Kong, and Israel, prompting some countries to put flight bans in place.