FTSE 100 hit by biggest fall since June 2020 amid new variant fears

Travel, aviation and oil stocks around world badly hit as worries deepen over effect of fresh Covid wave on global economy

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Stock markets around the world plunged on Friday as investors sold off shares, commodities and cryptocurrencies amid concerns that a new coronavirus variant, described as potentially the worst so far identified, could usher in a fresh wave of global pandemic restrictions.

The FTSE 100 suffered its biggest one-day fall since June last year when the pandemic was still in its first phase, closing down 3.6% - knocking 72bn off the value of companies on the index of blue-chip stocks. On Wall Street, the Dow Jones industrial average dropped 2.75% in early trading.