The ASX200 marked the Black Friday sales with its third consecutive week of declines, dropping as much as 2 per cent after a fresh COVID variant of concern sent a shudder through global financial markets and local travel stocks.
The ASX 200 closed 1.7 per cent lower, down 128 points to 7,279.30, with all sectors in the red and only 14 stocks finishing the day higher.
Energy was the worst hit, down 4.6 per cent, with falling oil prices also playing a part as governments release emergency oil reserves to cool the market.
Woodside Petroleum dropped 5 per cent to $21.60, while Santos finished 4.8 per cent lower.
But the major trigger for the market rout was fresh pandemic worries as the UK banned some flights in response to a new variant of concern in South Africa and Australia warned it may follow.
Travel stocks took an immediate hit with Flight Centre closing more than 7 per cent…
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