Global equity markets could see spiked volatility for the several coming weeks as traders closely tracks developments of the Omicron variant. However, market strategists warned traders not to take short terms hasty decision.
After Friday’s panic selloff equity markets saw rapid sell off after Moderna CEO warned existing vaccines could be ineffective against Omicron variant.
Several countries including Japan, Hong Kong and Israel have imposed travel restrictions.
Bill Ackman, founder and CEO of Pershing Square Capital Management earlier on Monday in a tweet said, “While it is too early to have definitive data, early reported data suggest that the Omicron virus causes ‘mild to moderate’ symptoms (less severity) and is more transmissible,”. He further added, “If this turns out to be true, this is bullish not bearish for markets”.