As Omicron variant-related news spread across the globe, stocks and futures in key indices fell on Monday morning. It seems that investors and traders may be adopting risk-averse behavior as much about Omicron’s economic effects remains unknown.
News of the spreading COVID-19 Omicron variant has been rattling financial markets across the world this week. As indices drop and then pick back up with the headlines, investors may be wondering how major biotechnology firms plan to respond to this latest health crisis.
U.S. equity contracts and European shares are on the rise with oil, rebounding from Friday’s steep decline due to fears of a new virus variant. There are reports that this strain’s symptoms are relatively mild, but the WHO warns of “severe consequences.”