As countries reimpose restrictions ahead of the holidays, the Covid variant continues to roil investors. As several other countries reimposed social distancing measures following the sweeping spread of Omicron on Tuesday, New Zealand delayed the planned reopening of its international border. Just a few days before Christmas and New Year celebrations, many nations are on high alert, fearing the impact of the latest health crisis on the global economy. Infections with Omicron are spreading rapidly across Europe, the United States, and Asia, including Japan, where 180 cases have been reported at a single military base. New Zealand’s Covid Response Minister Chris Hipkins said his country would delay the start of a staggering reopening of its border until the end of February. New Zealand’s government previously said that quarantine-free travel would be open to citizens and residents in Australia by mid-January and to foreign tourists by April. Investors were alarmed by the omicron variant on Monday, as stocks continued their decline for a third consecutive day.
Germany’s Health Minister Rules Out Lockdown Before Christmas, Warns of Fifth Wave Amid Omicron Rise
The Dow Jones Industrial Average, at once, fell more than 400 points as a result. As the frantic winter travel season ramps up, this highly contagious type has emerged as the most common strain in the United States. According to US health authorities, the substantially modified type of Covid was responsible for 73% of new infections recorded in the US last week. Though preliminary findings from South Africa, where the mutation was identified and reported to the WHO, indicated that the strain is mild, medical experts warn that more research and time are required to determine the severity. The first fatality linked to Omicron was reported in Harris County, Texas, on Monday. The individual, who was in his 50s or 60s, was unvaccinated, according to health officials.
