Say hi to Omicron [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Omicron wreaked havoc in the markets on Friday, sending European indices near 5% lower into Friday’s close. The selloff in the US was a bit less severe, but this is obviously not the performance we were expecting on Black Friday.

And weekend news was mixed.

Of course, the governments are quite experienced by now, so none was keen to wait and see we what would happen next. The reaction came fast, and included the well-known travel restriction measures, halting flights, restoring the entry measures, the tests, the isolation and so. The latter is bad news for the economic activity.

But the good news is, the WHO said that the symptoms of the new omicron were rather ‘mild’ so far. Therefore, the financial implications could be less bad than what everyone first thought.

Market action on Monday is not as bad as Friday. European stocks and US equity futures are up, but the risk appetite is vulnerable to news.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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