European stocks are expected to open modestly higher on Wednesday with investors continuing to digest the latest news around the new omicron Covid variant.
However, South African scientists said Tuesday that omicron significantly reduces the antibody protection generated by Pfizer and BioNTech's vaccine,. Still, people who have recovered from the virus and received a booster shot will likely have more protection from severe disease, the study showed.
Earlier, the White House's chief medical advisor Dr. Anthony Fauci said preliminary data from South Africa last week was "encouraging" as it suggested omicron is not as severe as initially feared, while noting that more data is needed to fully assess the risk posed by the variant.that the new variant has now been found in 50 countries and 19 American states.
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