European stocks fell sharply early Friday, with heavy losses for travel stocks and energy names after a new potentially highly contagious variant of COVID was detected in South Africa. The Stoxx Europe 600 index (STOXX:XX:SXXP) slid 3.8% to 465, with the German DAX (XEX:DX:DAX) down 3.5%, the French CAC 40 (PAR:FR:PX1) sliding 4.3% and the FTSE 100 index (FTSE:UK:UKX) down 3.4%. The U.K. has announced it will halt travel from South Africa and several other African countries as of Friday. Shares of International Consolidated Airlines (LON:UK:IAG) slid 10%, cruise operator Carnival (LON:UK:CCL) slumped 16% and Deutsche Lufthansa (FRA:DE:LHA) dropped 12%. Energy names also weighed heavily as crude fell more than 5% to $73.91 a barrel. BP shares (NYS:BP) (LON:UK:BP) fell 8%.
Nov. 26, 2021, 3:28 a.m. EST