Stocks slip, havens rally as new COVID-19 variant spooks investors

Published by
Reuters

By Tom Westbrook SYDNEY (Reuters) – Stocks fell and headed for their largest weekly drop in nearly two months on Friday, while safe haven assets such as bonds and the yen rallied as a new virus variant added to swirling concerns about future growth and higher U.S. interest rates. The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on South Africa. South Africa’s rand fell 1% in early trade, as did U.S. crude futures. S&P 500 futures fell 0.4%, while the risk-sensitive Australian and New Z…

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