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Stocks sink on fears of COVID-19 variant; S&P drops 1.4%

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The S&P 500 is down 1.4 percent in early trading, heading for its worst fall since late September and solidly lower for the week.

Stocks sink on fears of COVID-19 variant; S&P drops 1.4%
Stocks are opening sharply lower on Wall Street Friday after South Africa found a fast-spreading coronavirus variant and the European Union proposed suspending air travel from southern Africa. The S&P 500 is down 1.4 percent in early trading, heading for its worst fall since late September and solidly lower for the week.
The Dow Jones Industrial Average fell more than 800 points, and the Nasdaq composite is also dropping at the open. Travel and energy stocks are among the biggest losers, with Royal Caribbean, Carnival and Norwegian Cruises all off about 10%. The New York Stock exchange closes early at 1 p.m. Eastern.
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