By: Economic & Finance Report
New coronavirus variant called Omicron has put an unease in the global community. The variant is said to have originated in South Africa and has affected other Southern African countries. It has also affected Israel, Belgium and Hong Kong.
When WHO announced on November. 26, 2021 (Black Friday) about the possibility of the spread of the variant; the global markets reacted disappointedly to the news. The strain called Omicron is said to be more transmissible than the Delta virus.
Much of the markets on Friday November. 26, 2021; sold off its assets after the information of the new variant (Omicron). It is uncertain how the markets will be affected on Monday, Nov. 29, 2021 because of the data provided. It also is too early to know if Black Friday shopping was affected by the news, which should have more data implications for the upcoming week of November 29, 2021. -SB
Image Source: CBS San Francisco