U.S. stocks plunged on Sunday due to widespread concern over a new variant of Covid-19 detected in South Africa.
The White House said travel restrictions would be implemented next Monday between the United States and eight African countries because of the emergence of the new Covid-19 variant.
“As a precautionary measure until we have more information, I am ordering additional air travel restrictions from South Africa and seven other countries,” U.S. President Joe Biden said on Friday.
The Dow Jones Industrial Average was down 905.04 points, or 2.53 percent, to 34,899.34. The S&P 500 fell 106.84 points, or 2.27 percent, to 4,594.62. The Nasdaq Composite Index decreased.—Agencies
