Germany strengthens anticovid measures
Germany agreed to new restrictions on COVID-19 and the United States prepared to do the same. The new measures adopted by the government in Germany include restrictions on the number of people who can meet indoors and the closure of some discos and clubs.
"We understand that the situation is very serious and that we want to take further action in addition to those already taken," Chancellor Angela Merkel told a news conference.
Meanwhile, US Treasury Secretary Janet Yellen said the Omicron variant showed that the pandemic could last "for some time".
In an interview, Yellen said she hoped the pandemic would not completely stifle economic activity, adding that the U.S. stimulus at the start of the pandemic had helped spur a very strong economic recovery.
The new variant is spreading across the globe, including the United States, India and France reporting their first cases, and investors are shocked by the prospect that this could hurt global economic recovery.