Global markets down, oil slumps on Omicron vaccine warning

Published by

World stocks and oil prices slid Tuesday after Moderna warned current vaccines might be less effective at fending off the Omicron variant, and eurozone inflation spiked to a record high. Frankfurt, London and Paris followed Asia in closing sharply lower, with sentiment dogged by fears of fresh economic fallout from the long-running Covid crisis. Oil slumped back in New York with WTI down 5.1 percent a barrel at $66.38 — a three-month low — while Brent crude was off 3.80 percent at $70.65. The tumble followed the Moderna remarks, which have reignited fears over how the Omicron variant spread …

Read More

Leave a Reply