BRUSSELS (AP) — The world is confronting a new coronavirus variant, and officials have named it “omicron.” A World Health Organization panel has classified it as a highly transmissible virus of concern. Its discovery in southern Africa sent a chill through much of the world as nations raced to halt air travel, markets fell sharply and scientists held emergency meetings. The overall risks of omicron are not yet known. But the United States, the 27-nation European Union and some other countries quickly announced restrictions on travel from southern Africa and stepped up other precautions.

NEW YORK (AP) — Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. The S&P 500 index fell 2.3%, its worst day since February and the Nasdaq composite had its worst drop in two months. The Dow closed with a loss of 905 points. Travel and energy stocks were among the biggest losers, with Royal Caribbean dropping 13%, United Airlines falling more than 9% and Exxon losing 3.5%. The price of oil fell 13% and bond yields fell sharply.

CAPE TOWN, South Africa (AP) — Golf, cricket and rugby have become the first major sports to be affected by the new COVID-19 variant. The emergence of the new variant has prompted fears of renewed travel restrictions and disrupted events just as they were returning to normal nearly two years into the pandemic. European golfers withdrew midway through the season-opening DP World Tour tournament in Johannesburg and were scrambling to catch flights out of South Africa. Visiting cricket and rugby teams were doing the same. The new B.1.1.529 variant that was first identified in South Africa is causing concern over fears that it may be more transmissible than current variants and resistant to vaccines.MM