global markets crash on the news of detection of a new covid variant in south africa

a new variant of the covid 19 , deadlier than the existing delta variant was detected in south africa recently

this caused the global markets to crash – putting in jeopardy the recovery in the economy so far

austria is already in lockdown , a lot of european countries are debating if they will go into lockdown

crude prices are falling , and gold and silver are moving up as demand for safe havens go up