OMICRON’S IMPACT ON FINANCIAL MARKETS

[Anchor Lead]

First Vice Finance Minister Lee Eog-won convened a macroeconomic meeting Monday and reviewed the new covid-19 variant Omicron’s repercussions on the financial markets at home and abroad. He said the variant has increased market fluctuations both domestically and globally. Lee cited drops in stock prices, interest rates and oil prices as well as the rise in the won-dollar exchange rate. He explained the Korean financial market appears to be partly affected by growing moves to dodge risks and discouraged investor sentiment overseas.