Canada has announced that 2 cases of the omicron variant have been detected in the country. The omicron variant was first detected in South Africa and now has been detected in several other countries and now Canada. Israel found a single case of the variant and closed its borders to all countries those that still haven’t confirmed a case of the variant to have entered their countries. The announcement of the new variant made the Dow fell by 905 points, with the S&P 500 falling by 2% which is the worst plumet ever in 2021 and hasn’t seen such levels since the beginning of the pandemic in 2020. The variant was labeled by WHO a variant of concern, and as the B.1.1.529. Tedros Adhanom Gebreyesus the director of the World Health Organization said a statement of the new omicron variant is related to ” The Omicron variant reflects the threat of prolonged vaccine injustice. The longer we take to deliver #VaccinEquity, the more we allow the #COVID19 virus to circulate, mutate and become potentially more dangerous.”
The Economical impact of this virus is alarming to Wall Street Investors, and the world economy as a whole. And airlines are most likely going to lose money due to these new travel restrictions. But Giant airlines as Ethiopian Airlines a world leading airline have shown their strength against these economical hits, and most likely will profit of off such a new economical crisis.
On Friday, Canada closed its borders to foreign travelers who have recently been to seven Southern African nations in the preceding two weeks to help stop the spread of the newly identified variant of COVID-19, and Saudi Arabia the oil rich country has made the same steps as other western countries.