After rallying to a four-month high on Wednesday, European stock markets fell yet again on Thursday morning as investors continue to express anxiety over the ongoing uncertainty surrounding the Omicron coronavirus variant.
Since first being detected in Southern Africa, the Omicron variant has spread to Europe and the U.K. While few cases have been reported so far, the situation is wildly different in South Africa, where 8,561 infections were reported on Wednesday, signaling a positivity rate of 16.5%.
While there is still much uncertainty around the Omicron strain’s full effects, the World Health Organization revealed some positive news, namely that the COVID-19 vaccines that are currently in circulation are expected to be effective against the Omicron variant to some extent.
London’s FTSE slipped by 0.8% on Thursday morning, while the French CAC and German DAX both plunged by 1.1%. In New York, S&P 500 futures managed to sustain, gaining 0.5% while Dow Jones and Nasdaq futures increased by 0.6% and 0.5% respectively.
Following reports of an outbreak of the Omicron variant in the United States, U.S. markets dived, thereby marking the most volatile session since March.
