European markets plunged on Monday as investors observed a new rapidly spreading variant of the corona virus.

Pan-European Stokes 600 Shares of travel and leisure stocks fell 4 per cent, down 1.8 per cent in early trade. All regions and major bourses fell into negative territory.

New Covid mutation traders in the UK are panicking as a result of a severe lockdown in London and other parts of southeastern England and a U-turn to mix workers over the Christmas holidays.

This variant can transmit up to 70% of the actual stress of the disease. The World Health Organization says it has been identified in Denmark, the Netherlands and Australia so far.

It led Many countries in Europe and elsewhere to block travel from the UK. Like Canada and Israel, France, Germany, Italy, Ireland and the Netherlands have banned flights from the UK.

The situation will further complicate the Brexit talks. Britain and the European Union are set to end their December 31 deadline on post-Brexit trade ties and hold talks on issues such as fishing.

Sterling Fell sharply against the dollar, Down 1.7% to 33 1.33.

In Asia, shares trading in parts of North Asia such as Japan and South Korea as the corona virus situation remains critical.

Meanwhile, U.S. futures are flat after Congress reached an agreement 900 billion corona virus stimulus package. Legislators will vote Monday on the Disaster Relief and Financial Aid Bill.

Based on the data, Eurozone will release consumer confidence figures at 3pm London time.

British Airways Patron IAG fell 13.5 per cent in early trade.