New Covid variant, surging cases in Europe jolt Indian stock market, should you worry?
India Today
The new Covid variant found in South Africa has induced fear in the market, eroding around Rs 7.5 lakh crore of investors’ wealth on Friday.
The new Covid variant found in South Africa and a rapid surge in cases globally, especially in Europe, have induced fear in the market. This new uncertainty eroded around Rs 7.5 lakh crore of investors’ wealth on Friday alone.
The average new global cases on Thursday were 5.66 lakh, of which 63 per cent or 3.56 lakh cases were from Europe, according to Our World in Data. Average global cases rose by 48,000 in a week. Amid a severe Covid surge in Europe, average cases have doubled in the last 38 days in the region. A few countries like Germany and Netherlands have seen cases doubling in less than 20 days.
