An Israeli immunologist suggested this week that the spread of the newly detected Omicron variant — which has sparked panic and resulted in travel bans worldwide — may actually signal the beginning of the end of the global COVID-19 pandemic.
The chief economic adviser for financial services firm Allianz warned that the new coronavirus variant Omicron could shake up the markets, exacerbate supply chain woes, amplify record-high inflation pressures — and possibly result in 1970s-style “stagflation.”