Stocks sink on new COVID variant; Dow loses 905 points
NEW YORK (AP) — Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe.
The S&P 500 index fell 2.3%, its worst day since February and the Nasdaq composite had its worst drop in two months. The Dow closed with a loss of 905 points. Travel and energy stocks were among the biggest losers, with Royal Caribbean dropping 13%, United Airlines falling more than 9% and Exxon losing 3.5%.
The price of oil fell 13% and bond yields fell sharply.
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