Stocks are opening sharply lower on Wall Street after a fast-spreading coronavirus variant was found in South Africa and the European Union proposed suspending air travel from southern Africa.
from southern Africa. Meanwhile cases of the variant were found in Hong Kong, Belgium and Tel Aviv as well as major South African cities like Johannesburg.
There have been other variants of the coronavirus before — the delta variant devastated much of the US throughout the summer — but early data on this variant appears to show it’s more easily transmissible than other variants. Shares in the coronavirus vaccine manufacturers were among the biggest gainers as well. Pfizer shares rose nearly 7% while Modern shares jumped more than 22%.
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