– It promises to be a black day for world markets. The new variant of Covid-19 is sinking the Asian stock exchanges and causing oil prices to slide.

Operators fear it may be more contagious than the Delta and more resistant to vaccines e can deal a severe blow to the global recovery still fragile. Concerns driving investors to bond safety.

Asian financial markets recorded the largest decline in three months. In Tokyo, the Nikkei index closed down 2.53% at 28,751.62 points. In Hong Kong, the Hang Seng index lost 2.34%, Shanghai lost 0.48% and Seoul left 1.42% on the ground.

A start down also for the European stock exchanges.

Futures on the Euro Stoxx lose 1.94%, while those on the Dax in Frankfurt leave 1.76% on the ground and those on the Ftse 100 in London fall by 1.73%. Today the American markets, closed yesterday for Thanksgiving, will reopen but at reduced hours for the weekend. And a high-tension session promises to be. Futures on the Dow Jones are down 1.34%, those on the Nasdaq fall by 0.69% and those on the S & P500 mark -1.13%.

In oil prices also fell sharply on the Asian markets. Futures on WTI crude oil are down 3.19% at 75.89 dollars a barrel while those on Brent leave 2.58% on the ground at 80.10 dollars a barrel. Fears of a global supply surplus in the first quarter following a coordinated release of crude oil reserves among major consumer countries, coordinated by the United States, and concerns about the effects of the new Covid-19 variant weigh on.

OPEC warned that the release of crude oil reserves decided by the US in coordination with China, India, South Korea, Japan and Great Britain, it will increase the already forecast oil surplus on the market in 2022 by 1.1 million barrels per day.

Meanwhile, some oil cartel members have reported that the release of strategic reserves could lead the coalition to hold back crude oil supply in January.

By Editor

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