Detection of new Covid virus sent Asian stocks dropping sharply

Asian stocks suffered their sharpest drop in three months today and oil prices tumbled after the detection of a possibly vaccine-resistant coronavirus variant sent investors scurrying toward the safety of bonds, the yen and the dollar.

Little is known of the variant, detected in South Africa, Botswana and Hong Kong, though scientists said it has an unusual combination of mutations and may be able to evade immune responses or make it more transmissible...