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Dow drops 900 points amid fears over new COVID-19 variant

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Dow drops 900 pointsThe  Dow Jones Industrial Average dropped 900 points on Friday amid fears over the new COVID-19 variant.

While the Dow dropped 2.5 percent, the S&P 500 dropped 1.9 percent and the Nasdaq slid 1.5 percent.

Stocks plunged as a number of countries moved Friday to implement travel restrictions on southern Africa following the emergence of the new COVID-19 variant.

South African health officials said during a briefing Thursday that the new variant is "very different" from past mutations. And health officials in the U.K., which was one of the first to ban flights from several countries in South Africa, warned that the variant is one of the most significant yet.

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