European equities hit hard at the open on new COVID-19 variant fears
A bloodbath at the open
- Eurostoxx -2.4%
- Germany DAX -3.4%
- France CAC 40 -3.8%
- UK FTSE -2.2%
- Spain IBEX -3.2%
Of note, the oil and gas sector is down over 4% and the banking index is down by close to 5%, with travel and leisure the worst hit sector - falling by nearly 6% to a fresh 10-month low as we get things underway.
In the latest developments on the virus, Germany is the latest to declare South Africa as "a country with a COVID-19 variant of concern" while the new variant is said to have already made its way to Israel - first case being identified there by the health ministry.