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New ‘Variant of Concern’ Fuels Global Fear of Another Virus Surge Scientists do not yet know how dangerous the new Omicron variant is, but its many mutations set off alarms, lowering hopes of putting the pandemic in the past. ...... The world reacted with alarm on Friday to the highly mutated new coronavirus variant discovered in southern Africa, as the United States, the European Union and nations across the globe imposed new travel restrictions, financial markets swooned and visions of finally emerging from the pandemic started to dim. ........... the variant has mutations that might make it more contagious or more virulent, or make vaccines and other preventive measures less effective ........ “preliminary evidence suggests an increased risk of reinfection with this variant” in people who have already had Covid-19 ......... President Biden made the decision to bar travelers from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi, starting Monday, after a briefing by his top advisers on the pandemic, including Dr. Anthony Fauci............ even with quickly enacted travel restrictions, Omicron, like past variants, is certain to spread and reach the United States ........ the doubling time is pretty rapid and the slope of the increase is really rather sharp. .......... Stock indexes and oil prices tumbled around the world, as news of the variant and travel restrictions — coming in the economically vital holiday season — raised fears of yet more financial damage caused by the pandemic. ......... The response to the Omicron variant was especially quick and sharp in Europe, once again the epicenter of the global pandemic, where fights over vaccines and social restrictions have grown increasingly harsh........ Reported coronavirus cases have soared in Europe from about 700,000 a week in early September to 2.6 million a week. The surge began in the less-vaccinated countries of Eastern Europe, but then spread to highly vaccinated nations to the west that had thought they would not be vulnerable and were caught off guard. ..........