LONDON — Global markets have been rattled once again on concerns that the new omicron Covid-19 variant could potentially evade vaccines.

Even though health officials have stated that it may take several weeks before they can get a clear picture about how Omicron’s more than 30+ mutations impact the body’s response to current vaccines, Moderna CEO Stephane Bancel told the Financial TimesOn Monday, he said that they were less efficient against the new strain. Bancel also told CNBC on MondayA vaccine targeting the specific omicron variant could be developed and shipped in months.

Shares in Asia-Pacific fellTuesday’s trade saw declines of 2.4% on South Korea’s side, leading to a decrease in trading volume. KospiHong Kong’s – 1.9% Hang Seng index. Japan’s Nikkei 225Reduce 1.6%

EuropeanAfter Friday’s steep global sell-off, stocks plunged at Tuesday’s close to erase Monday’s gains. The pan-European Stoxx 600In the beginning, index fell 1.2%

Stateside, Dow futures were down more than 400 pointsEarly premarket trade was affected by concerns about vaccine efficacy. This reversed the rise in sentiment that followed President Joe Biden’s declaration of economic lockdowns, and additional travel restrictions. were currently off the table.

Spot goldWhile prices increased more than 0.5% to over $1,794 per troy-ounce, the Japanese yen was also higher. On Tuesday morning, the dollar fell 0.53% against the yen at 112.9.

Cryptospace bitcoinTo drop below $57,000, oil prices fell 1.9%. Oil prices fell as well, with Brent crude oil falling 3.1% to $71.17 per barrel and U.S. crude dropping by 3% to $67.85

After comments from the, European and U.S stocks tried to rally Monday after these moves South African doctor who raised alarm about the new variant. Angelique Coetzee explained that so far, symptoms due to omicron were very mild.

Charalambos pissouros is the head of JFD Bank’s research. He said that this week’s movements showed how sensitive market players are to news headlines.

“We think that this will remain the central theme for some time. We are not able to state that market worries have decreased and yesterday’s recovery is the start of a lasting recovery. Pissouros indicated that any new negative headline is likely to lead to another round of mass selling.

Various analysts have warnedVolatility may be a common theme in the weeks ahead, however we encourage investors to keep their eyes on long-term fundamentals.