How Worrying Is The New Virus Variant That's Rocking Markets

News of the new variant identified in South Africa roiled markets Friday, with travel-related stocks in Asia among the biggest decliners as investors anticipated the negative impact it will have on travel.

A new variant of the coronavirus -- called B.1.1.529 -- has been identified in South Africa, with officials there saying it's of concern. Fears a new strain could fuel outbreaks in many countries, straining health systems, potentially evading vaccines and complicating efforts to reopen economies and borders, sent a wave of risk aversion across global markets Friday. This new variant, B.1.1.529 seems to spread very quick! In less than 2 weeks now dominates all infections following a devastating Delta wave in South Africa (Blue new variant, now at 75% of last genomes and soon to reach 100%) pic.twitter.com/Z9mde45Qe0 Dr @mvankerkhove gives an update on #COVID19 virus variant B.1.1.529, during the #AskWHO session on 25 November 2021 ⬇️ pic.twitter.com/ZpflfEYzW9

Here's what we know so far:

What's different about this variant?

Scientists say B.1.1.529 carries a high number of mutations in its spike protein, which plays a key role in the virus' entry into cells in the body. It's also what is targeted by vaccines. Researchers are still trying to determine whether it is more transmissible or more lethal than previous ones.