What the Omicron variant means for your money

The Omicron variant of Covid-19 is panicking the markets. Will we see a new lockdown? What does it mean for the economic recovery, for inflation and for your portfolio? John Stepek explains.

Shopping crowds in a masks
No new lockdown for now
(Image credit: © Pietro Recchia/SOPA Images/LightRocket via Getty Images)

After a bit of respite yesterday, markets are back in Covid jitter mode this morning.

Much of it appears to be down to a somewhat glum headline interview with a big drugmaker in a big financial paper.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.