New coronavirus strain creates sensation in UK & 4 other nations; markets crash, UK flights banned

London: New strain of Coronavirus has created a sensation in five more countries other than the United Kingdom. Fears are being expressed that the extent of the pandemic will increase further, as the new strain spreads 70% faster than the old one. Stock markets in Asia and Europe crashed against the background of this fear. The estimated losses are to the tune of $60 billion. Within 24 hours of the new strain being detected in the United Kingdom, 32 countries of the world, suspended flights to and from the United Kingdom.

The new strain of the Coronavirus is spreading very rapidly in the United Kingdom; 35,000 cases were reported on Sunday alone. This is an increase of 94% over the last week. In the 24 hours on Sunday, the pandemic claimed 326 lives; this is an increase of 126% over last week. The total number of Coronavirus cases in the United Kingdom has reached 2,040,147; also, 67,401 deaths have been reported. The new strain is believed to be responsible for the faster spread of the pandemic. British Health Minister Matt Hancock expressed fears that the pandemic in the United Kingdom is getting out of control.

Sensation has been created following reports of the new strain crossing the British boundaries and entering into other countries too. Netherland, Denmark, Australia and Italy have reported the presence of the new strain. The local agencies in France and Northern Island also expressed fears that the new strain has entered those countries. The repercussions of this increasing spread are being seen in the stock markets in Europe and Asia.

The British main stock index FTSE 100 crashed by 2.6%. There was also a fall of between 2% and 3% even in the stock markets in Germany, France and Spain. The British Pound slid by 1.8%. Nikkei, the main Japanese stock index saw a decline of 0.6%. This slide in the index have cost near to $60 billion to the investors. Following the stock markets, the airlines and tourism market also is likely to be rocked hard.

Leading countries of the world have started rapid actions on receiving information about the new strain surfacing in the United Kingdom. A total of 32 countries, including 21 European countries, have suspended flights to and from the United Kingdom. France has decided to stop all the goods and passenger movement coming into France, from the United Kingdom. An urgent meeting of the European Union has been called on Monday. It is being said that a collective decision will be taken regarding the Coronavirus pandemic spreading from the United Kingdom. A British entrepreneurs group warned that the lockdown imposed to stop the spread of the new Coronavirus strain will cost the retail sector in the United Kingdom, a whopping $9 billion.