Stocks Sink With Oil on Virus Woes; Havens Rally: Markets Wrap
- S&P 500 tumbles most since February; oil drops below $70
- New virus variant sparks travel curbs, fears of economic shock
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U.S. stocks slid in a selloff across global markets amid growing fears a new coronavirus variant identified in South Africa could spark fresh outbreaks and scuttle a fragile economic recovery. Haven assets surged.
It’s the worst post-Thanksgiving performance for the S&P 500 since 1941, when President Franklin D. Roosevelt signed a bill to officially establish the fourth Thursday in November as a national holiday.