(WHO) The World Health Organization has warned that the new Omicron Covid-19 variant could spread faster globally, with severe impacts.
The global health body says high mutations of the Omicron allow the variant to be less effective to vaccines or immunity from past infection.
WHO is now calling member states to test widely for the new variant, which was first discovered in South Africa and is now spreading to other countries.
The spread of Omicron has seen countries close their borders, with Japan barring foreign arrivals beginning on Tuesday. India is also intensifying testing for travelers from high-risk countries.
The concerns of the Covid-19 variant have boosted biotech stocks, with Moderna, an early gainer, saying it would table a new vaccine for Omicron in early 2022.
Analysts say Omicron could spark interest in growth stocks again and constrain supply chains further. They say the impacts could be short-lived or muted if the health effects are mild.
SPY is up +0.75% on premarket, CSI 300 is down -0.18%, DAX is up 0.72%, DXY is up +0.11%.
