Just wear some economy is very wearing and recovering out of the covid the new variant found in South Africa called omicron has now been into the news for last one week.
As of now, we don’t know the severability of this variant but it is powerful enough to make people think and make people afraid of falling markets and spreading fear among the investors.
After the second wave of covid ended in May 2020 in India India has been recovering from the pandemic.
In the Q2 of 2021, India has got its GDP upside almost by 8 plus percent. This growth was also visible in the share market or stock market as the prices of shares were going the demand was quite high and things were bullish in the market.
Also in many countries, the market was going up in speculation of countries reviving and uplifting of lockdown routinization of lifestyles. All these were the reasons the market was speculating good opportunities to invest and trade.
But right after this positive speculation sought by the investors, the omicron variant of coronavirus introduced itself. Just like another coronavirus variant this variant also spreads rapidly.
The fact that the symptoms are not that severe makes it more threatening than other variants.
The moment news struck the markets they started falling right away because of fear of investors losing money. The panic situation made investors withdraw money from their investment by selling the shares.
This which were withdrawal cost in the market heavily and it started falling because of the same.
Figures of economic fallout as we saw in the first and second wave of covid. Since this variant has not yet been tested against the vaccines created a few months back the fear of this vaccine is still there in the minds of people.
Global market prices slump on Tuesday that is 30th November because of the omicron variant of coronavirus in the mind of people and also the hawkish comment of the chair of the US Federal Reserve roiled the financial market.
Can only hope for the best and hope that this variant will not prove better than waxing available in the market or the world right now.