The new Corona variant from southern Africa is worrying the financial markets.
The German leading index Dax started the day with a minus of more than 3 percent and could thus record its biggest daily minus on this Friday in this trading year, which actually went very well.
Individual stocks such as Daimler and Heidelberg Cement even lost more than 4 percent in early trading.
The selection index of the euro zone, Euro Stoxx 50, also fell sharply in the first hour of trading, losing 3.5 percent.
The new virus variant is spreading rapidly in southern Africa and is fueling concerns about a further exacerbated pandemic situation.
Like several other countries before, Germany is also drastically restricting air traffic with South Africa.
The Federal Ministry of Health announced on Friday that the country will be considered a virus variant area from Saturday night.
“As a result, airlines are only allowed to carry German citizens to Germany
.” In addition, all those who have entered would have to be in quarantine for 14 days, even if they are fully vaccinated.
Oil prices are falling
Growing concern about the virus variant is also making itself felt in the oil markets. Investors are pulling out of the crude oil market for fear of falling demand. The Brent variety from the North Sea is 2.5 percent cheaper to $ 80.14 per barrel. The new coronavirus variant discovered in South Africa is fueling speculation about new pandemic restrictions, says analyst Kelvin Wong from brokerage firm CMC Markets. There is, however, another reason for the falling oil price: An Opec advisory committee is forecasting an oversupply for the coming months due to the release of strategic reserves by the United States and other countries.
Some important Asian stock markets had already closed with heavy losses.
Both the Japanese Nikkei 225 and the Hang Seng from Hong Kong closed with a loss of more than 2.5 percent.