Global stocks were sharply down on Friday due to fears around the new Covid-19 variant reported in South Africa.
On Wall Street, the Dow Jones Industrial Average tumbled more than 2.5 percent for the worst day of the year.
The S&P 500 and the Nasdaq were also down over 2 percent.
In Europe, stocks in France and Germany fell more than 4 percent.
Asian stocks in Japan and Hong Kong were down by more than 2 percent.
South Korea's KOSPI was down almost 1.5 percent on Friday.
This comes after World Health Organization officials warned on Thursday of a heavily mutated variant found in South Africa.