The United States has joined the United Kingdom, Israel, European Nations and a host of others to restrict flights from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi starting from Monday.
US Senior officials announced on Friday, saying the restriction was recommended by Joe Biden’s chief medical officer and the Centers for Disease Control and Prevention. However, the restriction does not apply to US citizens or permanent residents.
The decision was after reports of a fast-spreading new covid variant called B.1.1.529 hits headline on Thursday, raising concerns it could spread across the world if nothing is done fast. On Friday, Hong Kong reported two cases of the virus while Belgium confirmed one case in a traveler from Egypt.
The World Health Organisation (WHO) has designated the heavily mutated coronavirus strain ‘a variant of concern’.
WHO said the new COVID variant would be given the name Omicron after data examined by its officials showed exponential growth in cases of the B.1.1.529 Sars-Cov-2 variant.
The news plunged global financial markets, with stocks falling to their lowest in more than a year. The Standard and Poor 500 dropped 2.3 percent while Europe’s Stoxx 600 sheds 3.7 percent and the MSCI Asia-Pacific index dipped by 1.7 percent.
Crude oil dropped over $10 or more than 5 percent to $72 a barrel. Even gold, a known haven commodity, pulled back, losing its earlier gains.
“What should have been a quiet Friday trading in both bonds and equities globally has turned into a rout,” said Andrew Brenner, head of international fixed income at NatAlliance Securities.