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Wall Street Opens Sharply Lower as Covid Concerns Flare Again; Dow Down 800 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

The Investing.com — U.S. stocks fell on Friday due to concerns regarding a potential vaccine-resistant version of Covid-19. This sparked panic in global markets and prompted a rush for pandemic traders to be reactivated.

The index had dropped 791 points or 2.2% to 35,013 by 9:40 ET. It was at 1.6%, while the was only 1.0% lower. 

The news that South African scientists discovered a new virus variant was credited with causing a few changes across the board. It is now known as 1.1.529. This strain has replaced the Delta Variant as the most widespread in its respective regions. There have been many variants of the virus discovered in recent months. However, this new strain differs from the original one by having a protein spike that is so distinct that the vaccines that are available today may not work against it. There is currently no evidence to support this claim. 

 

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