New Covid strain spooks market
Investors dump risk assets, flock to havens
Source: thestar.com.my
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Airlines and other travel stocks across Asia among biggest decliners as traders reacted to the prospect of new mutation spreading internationally
Asian stocks and US equity futures dropped amid the risk-off tone and crude oil retreated.
The rand fell to its weakest level in over a year on Thursday (25 November) on the back of the recently-discovered B.1.1529 variant and a new UK travel ban.
Concerns that a new Covid-19 variant discovered in South Africa could spread have Asian stocks and US equity futures on the decline, with crude prices dropping as well.