More than €5bn wiped off value of three Irish companies over new Covid strain

Irish Times | Nov 26, 2021 at 9:56 PM
  • Investors wiped more than an estimated €5 billion off the value of three leading Irish companies as news of Covid’s latest variant sparked stock market panic.
  • Stocks tumbled around the world on Friday after countries moved to impose new travel curbs to halt the spread of a new South African Covid strain feared to be more easily spread than current variants.
  • Oil prices suffered one of the largest ever one-day plunges, crashing more than 11 per cent as news of the new virus strain sparked fears that renewed lockdowns will hurt global demand.