Omicron Variant Halts the Return to Economic Normality

Existing Vaccines Are the Current Best Line of Defense, While Countries Will Continue to Boost the Defenses with A Booster Dose

The Omicron variant of the coronavirus infection has made intrusions over the recent euphoria of the global stock market, pausing the return to economic normality. This new deadly strain of Covid-19 disease has now become a variant of concern since the previous week, and no further insight has been made by the pharmaceutical firms of the vaccine today that the pre-existing coronavirus vaccines would not be as much effective to prevent the new wave of coronavirus pandemic, which have caused a widespread along with the significant amount of downfall in the prices of stock shares.

Fall in global market

The economic effect that would be caused by the Omicron variant over the global market should be of a limited amount, which would mainly occur due to the fact that the governments of the United Kingdom and the United States will try to do everything in their control to prevent implementation of nationwide lockdown, just as things are about to return to economic normality.

The world is currently waiting to receive data from healthcare facilities and hospitals, initially from the outbreak that occurred in the region of South Africa, and then from the rest of the places where the Omicron variant has been diagnosed, which has occurred soon after the return to economic normality throughout the world. There are ongoing researches regarding the severity and transmissibility of the new Omicron variant.

The new restrictive measures that have been announced in the United Kingdom, along with multiple areas across the world, provide a reflection of real-time science, and particularly it is being expected that the Omicron variant has the ability to go through the wall of immunity formed by the recently administered coronavirus vaccines.

Due to this belief, there is bound to be an influence over the financial system of the countries, which have just recently returned to economic normality after suffering for more than a year due to the sudden impact of the coronavirus pandemic on the entire world.

In the United Kingdom, a large amount of real-time data has been collected from various restaurant reservations along with online advertisement of jobs and has found that the amount had been well above the equivalence level in comparison with last year. The footfall of retail had just been below 8% on an equivalent day in the year 2019. The routine had now started to return to economic normality, even with a considerable quantity of active cases diagnosed with the Delta variant of the Covid-19 infection, along with a steady flow of weak mortalities.

Return of strict measures

The Omicron variant has made a pause in some of the processes, which has merely injected a possible doubt that the coronavirus pandemic has left us. The restrictive measures that have been announced are not too burdensome and are directed towards regular usage of face masks while being outdoors. The industry has been able to learn and adapt towards the onset of the coronavirus pandemic. But during the times when half of the impact caused on the economy due to the pandemic has come from the volunteer of consumers to follow through the protocols of social distancing, completely irrespective of the legal restrictions.

There is already a trickle regarding the events that are now being canceled along with parties on Christmas Day, but it is important not to overstate these things.

The traveling for business purposes along with some amount of tourism activities is be impacted due to the renewed requirements of quarantine for the Omicron variant, just as things had started to return to economic normality. The bottlenecks in the management of the supply chain which has already made hold in the recovery of the financial system of the economy and is likely to be exacerbated due to the upcoming third wave of coronavirus with the Omicron variant, which would require some of the working staff members to be in isolation for a time.

In case there is an increased influx of hospital admissions caused by the Omicron variant, the government of the countries would roll out their Plan B, which includes the return of strict preventive measures, including a nationwide lockdown for several days until the situation is taken under control. However, the governments do not want to return back to those conditions, as they have now recently been able to return to economic normality.

Also read Global Stock Markets and Oil Prices Fell After Moderna Omicron Warning