European markets plunged on Monday as investors monitor a fast-spreading new variant of the coronavirus that has shut down much of the U.K.
The pan-European Stoxx 600 dropped 1.8% in early trade, with travel and leisure stocks falling 4% to lead losses as all sectors and major bourses slid into negative territory.
Traders are nervously watching the new Covid mutation in the U.K., which has resulted in a tough lockdown in London and other parts of southeast England and a U-turn on the mixing of households during Christmas.
The variant is thought to be up to 70% more transmissible than the original strain of the disease. The World Health Organization said it has so far been identified in…