Panic attack..!
Once again COVID caused a panic sell-off in the markets!
I believe this is too early to talk about the worst-case scenario! because the information about this new variant is limited!
however, this limited information was enough to cause a sell-off while US players are mostly on holiday. So, the low volume could cause high negative volatility!
According to Nature:
Researchers in South Africa are racing to track the concerning rise of a new variant of the coronavirus that causes COVID-19. The variant harbors a large number of mutations found in other variants, including Delta, and it seems to be spreading quickly across South Africa.
A top priority is to follow the variant more closely as it spreads: it was first identified in Botswana this month and has turned up in travelers to Hong Kong from South Africa. Scientists are also trying to understand the variant’s properties, such as whether it can evade immune responses triggered by vaccines and whether it causes more or less severe disease than other variants do.
A World Health Organization (WHO) expert group will meet on 26 November, and will likely label the strain — currently known as B.1.1.529 — as a variant of concern or variant of interest, Tulio de Oliveira, a bioinformatician at the University of KwaZulu-Natal, said at the briefing. The variant would likely be named Nu — the next available letter in the Greek alphabet naming system for coronavirus variants — if it is flagged by the WHO group.
Researchers also want to measure the variant’s potential to spread globally, possibly sparking new waves of infection or exacerbating ongoing rises being driven by Delta.
But do not forget:
1- 24 % of the population are fully vaccinated in South Africa
2-There’s no evidence the new variant, with “some mutations that are raising some concern,” is already present in the U.S. (Dr.Faucci)
3- 53.9% of the world population has received at least one dose of a COVID-19 vaccine.
7.85 billion doses have been administered globally, and 29.06 million are now administered each day.
Only 5.6% of people in low-income countries have received at least one dose.
Reference Article:
https://ourworldindata.org/covid-vaccinations
I believe this is too early to talk about the worst-case scenario! because the information about this new variant is limited!
however, this limited information was enough to cause a sell-off while US players are mostly on holiday. So, the low volume could cause high negative volatility!
According to Nature:
Researchers in South Africa are racing to track the concerning rise of a new variant of the coronavirus that causes COVID-19. The variant harbors a large number of mutations found in other variants, including Delta, and it seems to be spreading quickly across South Africa.
A top priority is to follow the variant more closely as it spreads: it was first identified in Botswana this month and has turned up in travelers to Hong Kong from South Africa. Scientists are also trying to understand the variant’s properties, such as whether it can evade immune responses triggered by vaccines and whether it causes more or less severe disease than other variants do.
A World Health Organization (WHO) expert group will meet on 26 November, and will likely label the strain — currently known as B.1.1.529 — as a variant of concern or variant of interest, Tulio de Oliveira, a bioinformatician at the University of KwaZulu-Natal, said at the briefing. The variant would likely be named Nu — the next available letter in the Greek alphabet naming system for coronavirus variants — if it is flagged by the WHO group.
Researchers also want to measure the variant’s potential to spread globally, possibly sparking new waves of infection or exacerbating ongoing rises being driven by Delta.
But do not forget:
1- 24 % of the population are fully vaccinated in South Africa
2-There’s no evidence the new variant, with “some mutations that are raising some concern,” is already present in the U.S. (Dr.Faucci)
3- 53.9% of the world population has received at least one dose of a COVID-19 vaccine.
7.85 billion doses have been administered globally, and 29.06 million are now administered each day.
Only 5.6% of people in low-income countries have received at least one dose.
Reference Article:
https://ourworldindata.org/covid-vaccinations
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