The new Covid variant found in South Africa derailed most global markets, including India, which saw the S&P BSE Sensex tank over 1,400 points in intraday deals. Though the markets recovered partially, analysts suggest investors remain in a wait-and-watch mode and not jump in to buy stocks across-the-board.
"With the depth of winter fast approaching in the northern hemisphere, this renewed Covid outbreak is clearly the biggest risk to GREED & fear’s recommended cyclical trade," wrote Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear.
ALSO READ: Investors' wealth tumbles over Rs 4.48 trillion as markets plummet
ALSO READ: Investors' wealth tumbles over Rs 4.48 trillion as markets plummet
The B1.1.529 Covid variant first found in Botswana sudd
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