Biden provides update on new variant of Covid omicron – .

Biden provides update on new variant of Covid omicron – .

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President Joe Biden is expected to deliver remarks on Monday on the new variant of Covid omicron, the heavily mutated strain of the coronavirus that has sparked concern in markets and governments around the world since its discovery less than three weeks earlier.

The White House on Friday ordered precautionary restrictions on air travel from South Africa, where omicron was first detected, and from seven other African countries. The new rules, which took effect on Monday, were announced after the Dow Jones industrial average suffered its deepest rout of the year, over fears of another deadly wave of the pandemic.

But much remains unclear about the threat posed by the new variant. Scientists including Dr.Anthony Fauci, a U.S. infectious disease expert, say it may take weeks to understand omicron’s transmissibility, the severity of its symptoms, and the effectiveness of existing vaccines against it.

Biden, speaking from the White House, is expected to reiterate his calls for Americans and others around the world to get vaccinated and seek recalls for Covid as the best way to protect themselves and others from the pandemic .

“I decided we were going to be careful,” Biden told reporters Friday after announcing the new travel rules. “We don’t know much about the variant except that it’s a big concern, which seems to be spreading quickly,” he said.

The United States is still working to contain the highly contagious delta variant that dashed Biden’s hopes of overtaking the pandemic in 2021. This variant is now by far the most prevalent in the country.

Read live updates from CNBC to see the latest news on the Covid-19 outbreak.


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