ISLAMABAD; Fears of a new, but even deadlier COVID variant, detected in South Africa, brought down global stockmarkets on Friday. The investors made panic selling, bringing pressure of bulls to bring down all Asian and European stockmarkets. Asia Dow slided down by 1.87 %, Nikkei 225 by 2.53 %, Hong Seng by 2.67 %, Shanghai by 0.56 %, Sensex 2.45 %, FTSE 100 down by 2.74 %, DAX by 2.76 % and CAC down by 3.39 %.
According to some media reports, doctors have detected a new, but deadlier COVID variant (B.1.1529) in South Africa. The new COVID variant has created panic in many continents adversely hitting the stock markets in Asia and Europe. The doctors are yet to come up with more details on new COVID variant. Since breakout of the pandemic in 2019, the world community has already suffered huge loss in terms of human lives, businesses and industrial activities. With fears of emerging of a new type of COVID variant , bullish United State oil market also lost its momentum. A barrel crude oil went down in US market by $ 7.70. Its major decline in the prices of crude oil since last June when pandemic of COVID-19 was declared over by US, Europe and England to allow their people to live a normal life.
The World Health Organisation (WHO) on Friday warned of revisiting of COVID pandemic in many continents. It confirmed in a statement, issued on November 26, 2021 that the world must be preparing for another phase of COVID . The statement said the new variant may take weeks for its comprehensive understanding and behaviour.
After going through a deadly phase of COVID 19 since its breakout in December 2019, the world is still in struggling mode to overcome the affects of the deadly virus . The emergence of a new variant may cause more adverse affects on human life.
