ASX: Australian stock exchange shares fall, omicron covid effect

Stock markets around the world are crashing after nervous investors panicked over the announcement of a new coronavirus version.

Australians have been warned not to panic as the nation’s stock market opens in the next few hours as concerns over the new Omicron coronavirus version have grown.

Un FridayThe World Health Organization (WHO) recently declared the B.1.1.529 strain covid-19 to be a “difference of concern” and named it Omicron.

Since then, it has popped up in many countries, including Australia The two returning passengers tested positive on the NSW, And there they are There are fears that some more cases may be hidden in Victoria as well.

Stock markets around the world have plummeted since the invention of Omicron and industry experts are now holding their breath to see what happens when the Australian market opens at 10am AEDT.

Worldwide, shares sank as investors sold out soon after news broke that the border had closed again due to the virus.

However, an Australian expert encouraged investors to grasp their nerves.

On Friday, in the United States, the country’s top 500 companies fell to their lowest level since February, while Japan’s overall market fell 2.5 percent.

On the same day after the WHO announcement, Hong Kong’s performance was even worse at 2.7 percent.

European stock exchanges fell 3.7 percent, major stock indices in the UK fell 3.6 percent and both France and Spain fell 5 percent.

Back in Australia, we felt the first shock of Omicron before the weekend, with Flight Center down seven per cent, and Qantas and Corporate Travel Management down five per cent as the border closed.

The UK was the first country to ban flights from South Africa, soon after the European Union and the United States, while Brazil, Canada, South Korea, Sri Lanka, Thailand, Oman and Kuwait have also banned.

On Saturday, Australia tightened its international borders for travelers from nine African countries where a new version of the concern was found.

Individuals from African nations South Africa, Lesotho, Botswana, Zimbabwe, Mozambique, Namibia, Iswatini, Malawi and Seychelles will be subject to a 14-day quarantine.

Australia will now confirm the transmission of Omicron in the United Kingdom, Germany, the Netherlands, South Africa, Botswana, Belgium, Hong Kong and Israel.

Ines Wilox, chief executive of the Australian Industry Group, urged governments not to “overreact” to the Omicron variant as it could have a “devastating” effect on the Australian economy.

“While some precautions are understandable, the response to any new and unavoidable version needs to be targeted, proportionate and keep in mind that about 90 percent of us are vaccinated and are tired of lockdowns and border closures,” Mr Wilox said. Australia said.

“We are getting our economy back on its feet, but investment and confidence are still uncertain.

“The over-reaction would be disastrous in terms of time and proportionality around Australia shutting down the state and the state.”

Investment market analyst Ivan Lucas acknowledged that new tensions have created fear around the global market.

“There is no doubt that this is a risk,” he said Told ABC Regarding the Australian Stock Exchange.

Originally published Omicron covid variants sink worldwide markets


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