Market news

26 November 2021

Coronavirus update: WHO calls special meeting to discuss variant

Having witnessed a sluggish day due to the US Thanksgiving Day holiday, market players struggle with a risk-off mood during Friday as the coronavirus concerns weigh on the sentiment.

Among the key catalysts were the chatters over the virus version, with a formal name of B.1.1.529, which is linked to South Africa and is immune to the vaccines.

The World Health Organization (WHO) has called for a special meeting to discuss the new version of the virus and any fears emanating from it to confirm its status as a “variant of concern.” Scientists said, per Reuters, “The variant, detected in South Africa, may be able to evade immune responses. British authorities think it is the most significant variant to date, worry it could resist vaccines and have hurried to impose travel restrictions on South Africa.”

It’s worth noting that the news of finding two cases of the new virus variant in parts of Southern Africa, from two travelers arriving in Hong Kong, also weighs on the sentiment.

Elsewhere, Germany marks a jump in the coronavirus led deaths to cross the 100,000 mark. Reuters said, “Another 351 people have died from coronavirus, bringing the total since the start of the pandemic to 100,119, data from the Robert Koch Institute for infectious diseases showed. The number of new daily cases hit a new record of 75,961.”

Austria already announced local lockdowns due to the virus outbreak while French Health Minister Olivier Veran said on Thursday that they will not announce any new coronavirus-related lockdown or curfew, as reported by Reuters.

On a different page, Japan’s Chief Cabinet Secretary Hirokazu Matsuno showed concerns over the virus variant and said, “If any new coronavirus variants are identified we will reconsider our border controls as needed.”

Furthermore, Australia’s daily covid cases rise to the highest levels since October 29, per ABC News.

It should be noted that the UK Health Security Agency (UKHSA) calls for a technical briefing to discuss the variant, which in turn becomes important and weigh on the market sentiment as well.

Read: Yields drop the most in a week, S&P 500 Futures down too amid risk-off mood

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

Open Demo Account
I understand and accept the Privacy Policy and agree that my name and contact details can be used by TeleTrade to contact me about the information I have selected.
23 International Awards
Have a question?

We are ready to assist you in every step of your trading experience
by providing 24/5 multilingual customer support.

Follow us

Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.

© 2011-2021 Teletrade-DJ International Consulting Ltd

Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).

The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.

Please read our full Terms of Use.

To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies.

Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Choose your language/location