Option Millionaires

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European stock markets have sold off as worries about the effectiveness of current vaccines against the new Omicron strain sparked a fresh wave of risk aversion that put pressure on bond yields and stock markets. Moderna's CEO told the FT that existing vaccines will be less effective and that it may take months before modified vaccines are available at scale. The Treasury yield fell below Friday's level and DAX and FTSE 100 are down -0.6% and -1.2% respectively, while a -1.3% drop in the Dow Jones is leading the slide in U.S. futures. Indices across the Asia-Pacific region also closed mostly lower. Topix and Nikkei lost -1.0% and -1.6% respectively, the Hang Seng -1.6% and the CSI 300 -0.4%. Shanghai and Shenzen Comp managed fractional gains after a better than expected China manufacturing PMI that managed to lift above the 50 point no change mark. The ASX outperformed and was up 0.2% at the close.