David Shapiro on Omicron’s market-moving mania 

South Africa’s favourite market commentator David Shapiro sheds light on the chaos in markets following the outbreak of a new Covid-19 variant, Omicron. Discovered by South African scientists, this variant is supposedly more transmissible despite those infected only having mild symptoms. The mania sent equity markets into freefall and was especially damaging to leisure and hospitality companies. Shapiro says the new variant is of little concern and the markets are likely to blow this over. However, Shapiro does raise the alarm bells for investment returns in 2022. After three consecutive years of near 30% returns, he says global indices will do well to beat inflation, with valuations currently elevated.  Learn more about your ad choices. Visit megaphone.fm/adchoices