Why the Markets Are Crashing Today (Stocks, Crypto, Oil…)
I think weve all had more than enough it all for the past two years, but its clear that this is very worrying news, thats come out and the markets have been shaken by it. So we need to address it. You know, equities have been selling off quite strongly. You can probably see the dow over my shoulder here and other markets have been affected as well. So lets just get straight to the points in this video ill. Tell you everything, thats known right now about this new covert strain and whats likely to happen next and then at least youre aware of the situation. So the variant is the b11529, but the who is holding an emergency meeting today, where they will most likely give it a new name at the point that they announce it as a variance of concern. So therell be some sort of greek alphabet name like weve. Seen with other variants, the uk health security agency has said that this is the most significant variant that weve seen so far. One of the reasons for this is the number of mutations that this variant has compared to the previous ones, and so far at the time of filming this almost 100 cases have been detected in south africa. Hong kong has confirmed they have two cases and in botswana, theyve, been saying its been detected in people who have even already been vaccinated. So, as a result of this, the uk, singapore and israel have banned flights from south africa and neighbouring countries its likely that other countries will also be following their steps and announcing similar measures as well.
So as well as this not being good news for people that wants to travel from southern africa, its also not good news for travel companies either, who have had a pretty horrific past two years. So what do we know about this strain so far? Well, to be honest, its early days, so although things do sound very concerning right now, it may actually turn out to be not so serious or not as serious as people are thinking right now so touch words. That could be the case. In fact, the european molecular biology laboratory has said it may turn out that this variant is not as large a threat as alpha or delta, but the potential consequences of not acting on the possibility it could be are serious. So this is why countries are taking urgent action about this because they want to stay ahead of it and not let it get out of control, which is fair enough. The who and south african scientists are studying the new variant at the moment and theyve said that so far, they can see is very different to previous ones and of serious concern, theyre studying at the moment how quickly it can spread. So how transmissible it is and whether its resistant to vaccines or not but results will take at least two weeks because they have to breed the virus and then experiment on it. So we cant expect to know for sure anytime soon were gon na have to wait.
A couple of weeks for that, however, whats already clear, is that this one has the most mutations out of any strain so far. I think for the top of my head, its like 30 or 50 mutations, its a lot. So the chief scientist of the who has said the new variant has a number of worrying mutations in the spike protein early analysis shows that this variant has a large number of mutations that require and will undergo further study. We can see from testing data in south africa that this new variant is spreading at a much faster pace than the previous variants have. So it may be that its more transmissible than the other ones and its also thought that it may be triggering a new wave in the country at the moment. So more details will emerge over the coming weeks, but we wont know for sure what the situation is until at least two weeks from now. We can probably expect a lot of worrying headlines and the markets will probably be quite sensitive to it all. However, there are two silver linings from this. The first is that these mutations dont necessarily mean its going to be more deadly or cause more hospitalizations. It may just end up being more transmissible, but not worse in terms of what it does to us, so fingers crossed for that. One and the other silver lining in terms of the markets is that weve been through this before, and the markets have been able to shrug off any concerns relatively quickly, so its unlikely to cause a complete meltdown or panic more just the initial knee jerk reaction.
Now, if you want to know more about this sort of topic about the different strains and how these mutations happen, we released a video much earlier in the year about the different strains and whether the market was overlooking them now. Id say: im, sorry that were ending the week on a downer, but i do hope you have a great weekend anyway.