# Stocks and oil prices drop as the world reacts to new coronavirus variant omicron

- Link: https://www.widthness.com/new-covid-19-variant-in-south-africa-raises-concern/
- Published: 2021-11-27T10:00:53-06:00
- Author: Curated by John Wysocki

Article by Martin Kaste and Joel Rose. NPR – Updated November 26, 2021. Stock markets around the world tumbled on Friday after scientists in South Africa identified a new, fast-spreading variant of the coronavirus, with the Dow Jones Industrial Average recording its biggest single-day drop of the year. At one point, the Dow fell more than 1,000 points before recovering slightly to close down 905 points, or about 2.5%, for the session. Oil prices dropped more than 10%, their steepest one-day decline since early in the pandemic. Virologists are rushing to learn more about the variant of the virus that causes COVID-19 that was first identified in Botswana, and which is rapidly outcompeting other versions of the virus in the region of South Africa that includes Johannesburg. […] Click here to view original web page at www.npr.org Curated by John Wysocki See Full Bio