Omicron scare has touched the stock markets of late. As a result, stakeholders have experienced a bloodbath from every corner.
The shares of domestic stock companies have seen their lowest in the last four months experiencing a massive plunge. S&P index lost 1,700 points at around 1:10 PM, while the Nifty index was down by over 535 points. It has to be noted that there is a sharp jump in the volatility perspective with India’s VIX rising up to 18 per cent.
OMICRON THREAT INTENSIFIES
The threat started after there has been a rapid rise in the Omicron variant of covid. This wildfire has already impacted the European markets after becoming the dominant strain in South Africa.
This is not the first time a virus has threatened global economic recovery since Covid-19. This has been leading to weakness in the stock markets all over the world. Many countries are planning to bring the restrictions again to limit the spread of the new Omicron variant, while some European nations like the Netherlands have already gone under lockdowns – again!