The stock market panic over the variant is too much

The stock market panic over the variant is too much

AP) — An advisory panel of the World Health Organization classified a new COVID-19 variant first detected in South Africa as a highly transmissible virus of concern and named it “omicron” under its Greek-letter system.

The announcement Friday from the United Nations health agency marks the first time in months that WHO has classified a COVID-19 variant as such. The delta variant, which has become the world’s most prevalent, is in the same category.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

BRUSSELS (AP) — The discovery of a new coronavirus variant sent a chill through much of the world Friday as nations raced to halt air travel, markets fell sharply and scientists held emergency meetings to weigh the exact risks, which were largely unknown.

Medical experts, including the World Health Organization, warned against any overreaction before the variant that originated in southern Africa was better understood. But a jittery world feared the worst nearly two years after COVID-19 emerged and triggered a pandemic that has killed more than 5 million people around the globe.

“We must move quickly and at the earliest possible moment,” British Health Secretary Sajid Javid told lawmakers.

There was no immediate indication whether the variant was more transmissible or causes more severe disease. As with other variants, some infected people display no symptoms, South African experts said.

Even though some of the genetic changes appear worrisome, it was unclear if the new variant would pose a significant public health threat. Some previous variants, like the beta variant, initially concerned scientists but did not spread very far.

The stock market panic over the variant is too much

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