Stocks sink on new COVID variant; Dow loses 905 points

  • FILE - The New York Stock Exchange operates during normal business hours in the Financial District, Wednesday, Oct. 13, 2021, in New York. Stocks are opening sharply lower on Wall Street Friday, Nov. 26, after South Africa found a fast-spreading coronavirus variant and the European Union proposed suspending air travel from southern Africa. (AP Photo/John Minchillo, File)

NEW YORK — 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. Investors were uncertain whether the variant could potentially reverse months of progress at getting the COVID-19 pandemic under control.