Global Omicron spread leads to new lockdowns, markets fear consequences for economy

New Zealand on Tuesday postponed a planned border opening due to the widespread spread of a variant of the Omicron coronavirus around the world, with several other countries again imposing a social distance requirement.

Many countries are on high alert just days before Christmas and New Year’s Eve celebrations. The re-emergence of the health crisis is also affecting financial markets, which fear the consequences for the global economic recovery.

Omicron contamination is rising rapidly in Europe, the U.S. and Asia, including Japan, where at least 180 cases have been reported in one hotbed, a military base.

New Zealand’s COVID-19 impact minister, Chris Hipkins, said his country, which has imposed some of the toughest coronavirus restrictions in the world, is delaying the start of a planned phased border opening until late February.

In Singapore, the health ministry is testing to determine whether a coronavirus outbreak among visitors to a gym is linked to omicron, and has warned of the possibility of more cases of COVID-19 infection.

In the United States, officials said Omicron claimed the life of an unvaccinated man in Texas on Monday after becoming the dominant strain in the country. Queues for COVID-19 tests from those who want to celebrate the holidays with their families have lined up around neighborhoods in New York, Washington and other U.S. cities.

South Korea, the Netherlands, Germany and Ireland are among the countries that have imposed partial or full lockdowns or other measures of social distancing in recent days.

Israel has added the United States to its list of “no-fly” countries, citing concerns about the spread of omicron, and Kuwait has said it will require inbound travelers to confirm revaccination if more than nine months have passed since receiving a second dose of vaccine.