LONDON — European stocks are expected to open lower on Thursday as concerns persist over the omicron Covid variant.

The U.K.’s FTSE index is seen opening 80 points lower at 7,086, Germany’s DAX 176 points lower at 15,295, France’s CAC 40 down 91 points at 6,797 and Italy’s FTSE MIB 326 points lower at 26,026, according to data from IG.

Major markets across Asia-Pacific and the U.S. had bounced back Wednesday despite fears about the new variant and the Federal Reserve mulling a quicker-than-planned taper.

Global stock markets are not showing any signs of recovery due to uncertainty about the potential risks presented by the new Omicron Covid variant. It was discovered in South Africa last Wednesday and declared a “variant to concern” by WHO.

According to the WHO, at least 23 countries have reported cases from omicron in 5 of 6 WHO regions. This number is expected to increase. Also, it noted that South Africa’s hospitalizations have been increasing. but said it’s still too early to know whether the omicron variant is driving an increaseExtreme Covid-19 cases.

Asia-Pacific markets were mixed, but U.S. stock futures rose during overnight trading. the CDC confirmed the first known case of the omicron variant in the U.S., sending stocks tumbling. In northern California, the first instance of the highly mutated variant was discovered.

Information releases include data on the Euro zone unemployment rate (October) and the producer prices (October). On Thursday, there are no significant earnings.