Omicron Covid Update: Risk takes a hit as new variant grips the US

Asia witnesses a turnaround in the market sentiment, as risk trades take a hit from the growing spread of the highly contagious Omicron covid variant in the US.

After a case of the new strain detected in California a day ago, Los Angeles reported its first case in the last hour.

Earlier on, Hawaii confirmed a single Omicron covid strain cases while New York State registered five cases. Although all fives cases reported are said to be mild.

In light of escalating concerns over the new variant, the US has announced a mandatory COVID-19 test a day prior to departure for travelers inbound to the country from December 6.