Restrictions on entry to South Africa due to the appearance of a new mutation ‘Omicron’… global stock market hit

The emergence of ‘Omicron’, a new mutant virus of COVID-19, has taken a toll on stock markets and oil prices around the world.

President Joe Biden of the United States announced on the 26th (local time) that he would restrict entry to travelers from South Africa and neighboring countries starting on the 29th (local time).

Eight countries, including South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi, are subject to the US travel restrictions, and there is a possibility that there will be more.

The European Union (EU) announced that 27 member countries all agreed to similar travel restrictions, and the UK and Russia also announced measures such as blocking flights from South Africa and neighboring countries, bans on entry other than their own nationals, and quarantine.

Asian countries such as Singapore, India, Japan, Hong Kong, and Malaysia, Middle Eastern countries such as Israel, Saudi Arabia, and the United Arab Emirates (UAE), and South American countries such as Brazil are also implementing border control.

The World Trade Organization (WTO) has postponed the ministerial meeting scheduled for the 30th in consideration of travel restrictions in each country.

South Africa’s health minister, Joe Pala, called the entry restrictions “unfair” and “exceeds the World Health Organization (WHO) standards or normal range.”

Meanwhile, the Omicron mutation became known when South African scientists reported the discovery of ‘B.1.1.529’, a new mutation that caused 32 genetic mutations in the spike protein.

It was first discovered in Botswana, Africa, and is spreading in South Africa. After Hong Kong, it was confirmed in Israel and Belgium on the same day.

According to Newsweek, as of the 25th, the number of confirmed cases of Omicron mutation is 87, including 77 in South Africa, 6 in Botswana, 2 in Hong Kong, 1 in Israel and 1 in Belgium.

The World Health Organization (WHO) held an expert meeting on the same day and named the mutant Omicron and classified it as a ‘variant of concern’. This is the highest level of classification, such as delta variation.

“Preliminary evidence suggests an increased risk of reinfection when compared to other variants,” the WHO said.

The European Center for Disease Control and Prevention (ECDC) urged countries to urgently implement travel restrictions and expansion of booster shot vaccinations, saying, “The transmission power is large, and it can reduce the effectiveness of the vaccine and increase the risk of reinfection.”

On the other hand, with the advent of the omicron mutation, the global stock market has also faced a ‘Black Friday’.

On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average plunged 2.53%, the biggest drop since October 28 last year. European stocks also fell more than 4%.

Vaccine manufacturers such as Pfizer/BioNtech, Moderna, Janssen (Johnson & Johnson), and Novavax analyzed Omicron and started reviewing whether to present a customized vaccine.

/ Reporter Jung Yu-jin coffee17g@incheonilbo.com

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