(Yicai Global) Dec. 22 -- China's mainland stock markets slid in the afternoon with the financial sector plunging the lowest, following Europe's worsening Covid-19 situation.

The Shanghai Composite Index ended 1.86 percent lower at 3,356.78. The Shenzhen Component Index was at 13,882.30, down 1.79 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, fell 2.45 percent to 2,811.75.

Insurers, such as China Pacific Insurance [SHA:601601] and China Life Insurance [SHA:601628], dropped more than 4 percent. Brokerage Hatou Investment [SHA:600864] tumbled by the daily limit of 10 percent.

After a new Covid-19 strain was detected in the UK, major stock markets in Europe fell yesterday, followed by declines in Japan and South Korea today.

Editor: Emmi Laine