Global market sway due to concerns about Omicron vaccine

The trader is working on the floor of the New York Stock Exchange (NYSE) in New York City on October 27, 2021.

Brendan MacDermid | Reuters

London — The global market is once again upset due to concerns that the new Omicron Covid-19 variant may evade the vaccine.

Health officials say it will take weeks to fully understand how more than 30 mutations in Omicron affect response to existing vaccines. Modana CEO Stephane Bancel Told the Financial Times On Monday, he expects them to be less effective against new strains.

Bansel also told CNBC on Monday It can take several months to develop and ship a vaccine that specifically targets the Omicron variant.

Asia Pacific stocks fell Driven by South Korea’s 2.4% decline during Tuesday’s trade KOSPI 1.6% for Hong Kong Hang Seng Index..Japanese Nikkei 225 Also, 1.6% was shed.

European Stock prices fell on Tuesday morning after the market tried to start a rebound following Friday’s sharp global sellout, almost eliminating Monday’s rise. Bread-European Stocks 600 The index had fallen 1.2% by the morning.

State side, Dow futures fell by more than 480 points In pre-market trade, concerns about vaccine efficacy have reversed the rise in sentiment following President Joe Biden’s allegations of economic blockades and further travel bans. I was off the table now..

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Spot gold Prices have risen by more than 0.7% to more than $ 1,797 per troy ounce, but traditional safe haven companions JPY It rose again. The dollar fell 0.6% against 112.8 yen on Tuesday morning.

Benchmark yield 10-year government bond It fell 10 basis points to 1.4273% at 4:30 EST.Yield 30-year government bond It fell 6 basis points to 1.8166%. Yields are inversely proportional to price, and one basis point corresponds to 0.01%.

In crypto space, Bitcoin It slid to $ 56,752.70, down 2.35%. Crude prices also fell, with international benchmark Brent crude down 2.7% to $ 71.43 a barrel and US crude down 2.4% to $ 68.27.

The move came after European and US stocks attempted a bailout rally on Monday. South African doctor who sounded a warning about a new variant.. Dr. Angelique Kotze said that Omicron’s symptoms have been very mild so far.

Charalambos Pissouros, head of research at JFD Bank, said this week’s move proves how sensitive market participants are to the Omicron headline so far.

“I believe this will be the main theme for some time. With that in mind, I don’t want to say that market concerns have diminished and yesterday’s rebound is the beginning of a long-term recovery. A new negative headline. It is likely to bring another leg of large-scale selling. “

Various analysts warn Its volatility could increase in the coming weeks, but investors were encouraged to continue the course and focus on long-term fundamentals that have not changed.

Global market sway due to concerns about Omicron vaccine

Source link Global market sway due to concerns about Omicron vaccine

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