Nu-covid sends shares tumbling

Fri, 26 Nov 2021

New Zealand shares plunged in one of the sharpest declines this year as news of a new covid variant spooked investors around the world.The S&P/NZX 50 Index fell 165 points, or 1.3%, to 12,628.89. Turnover was $203 million.Researchers in South Africa have discovered a variant of covid – expected to be called the Nu strain – that some are concerned may be both more infectious than the current strain and resistant to vaccines.The newly found variant is reported to have five times as many mutations in its receptor-binding domain whi...

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