Asian stocks fall further after new virus variant spreads
ABC News
Asian stock markets have fallen further after the omicron variant of the coronavirus was found in more countries and governments imposed travel controls
BEIJING -- Asian stock markets fell further Monday after the omicron variant of the coronavirus was found in more countries and governments imposed travel controls.
Tokyo, Shanghai, Hong Kong and Sydney declined, though losses were much smaller than Friday's sharp decline after reports said the variant first spotted in South Africa appeared to be spreading around the globe.
On Friday, Wall Street's benchmark S&P 500 index fell 2.3% for its biggest daily loss since February. Investors sold banks, energy and airline stocks and shifted money into bonds and other safe haven assets.
“Financial market volatility will likely persist through this week,” said Venkateswaran Lavanya of Mizuho Bank in a report.
