The S&P/ASX 200 (ASX: XJO) bore the brunt of the global sell-off on Friday as news emerged of another, more dangerous strain of COVID-19 found in South Africa.
Potentially resistant to existing vaccines, the news spooked the market, sending the ASX 200 down 1.7% and taking the weekly loss to 1.6%; the third weekly loss in a row.
Only 14 stocks out of the ASX 200 managed to deliver a positive return, with the energy sector the hardest hit, falling 4.6%, as every sector fell.
Naturally, gold rallied amid the volatility with Newcrest Mining Ltd (ASX: NCM) gaining 0.8%.
Appen smashed, ASX travel shares tumble
Shares in Appen Limited (ASX: APX) led the market lower, falling 18.8% after Macquarie Group Ltd (ASX: MQG) flagged concerns about the lack of a positive earnings update that had occurred in previous years.
ASX travel shares gave up recent gains on the threat of border closures as Flight Centre Travel Group Ltd (ASX: FLT) fell 7.5% and Corporate Travel Management Ltd (ASX: CTD) dropped 5.8%.
ASX 200 weekly movers
Over the week, the materials and utilities sectors were the rare beneficiaries, as the iron ore price exceed US$100 per tonne once again.
On a company-specific level, the highlight by far was EML Payments Ltd (ASX: EML), which jumped 24% after getting positive regulatory news, with Fortescue Metals Group Limited (ASX: FMG) also gaining 11%.
Appen led the weekly losers, down 21.5%, with TechnologyOne Ltd (ASX: TNE) also falling nearly 14% after a weak FY21 result.
ASX 200 today
Looking ahead, the ASX 200 is expected to tumble on Monday as US stock markets were crunched by more than 2% on Friday. For all the latest, check out my US stock market report.
