The omicron variant has stock markets spooked
In light of a new covid variant emerging in southern Africa, named omicron by the WHO, the UK revived its red list and several European countries reinstated travel bans against six African countries today (Nov. 26). The FTSE 350 travel and leisure index, comprising of large UK-listed stocks in that sector, tumbled sharply to its lowest in over a year. The pan-European Stoxx 600, which comprises 600 listed companies across 17 European countries, tumbled more than 3% in early trade, as market sentiment soured for several travel-related businesses.
