The fate of global markets now depends at least in part on laboratories probing the omicron COVID-19 strain, potentially leaving investors with weeks of uncertainty in the wait for answers.

The variant detected in Africa is described as highly worrying and international travel bans are proliferating. Scientists are analysing whether it can evade inoculations and the severity of illness it causes. Vaccine maker BioNTech SE expects the first data within two weeks, initial findings that will help determine if a passing scare or bigger hit to global economic reopening looms.

Bloomberg