The surging delta variant brings new uncertainty to the economic recovery, experts warn
Traders at the New York Stock Exchange.
Source: NYSE
LONDON — The rapid spread of the delta Covid-19 variant has clouded the growth outlook, strategists are warning, but it’s too soon to tell whether markets will weather the storm.
France, the Netherlands and Spain all announced new restrictions on Monday in a bid to curb surging cases of the highly-transmissible variant, while the U.K. has committed to taking a leap of faith and lifting its final phase of restrictions on July 19, despite rising cases.
In a research note Monday, Oxford Economics highlighted that while global Covid cases remain relatively low, the number of economies reporting sequences of the delta variant had climbed to 89, with a growing number now identifying it as the dominant strain. It has been detected in more than 100 countries.
Oxford Economics Director of Global Macro Research Ben May said market concerns about the impact of the variant on the global economy…
