Covid cases triggered by the Omicron variant is multiplying rapidly across Europe, the United States and Asia. Many countries have imposed in strict measures to combat a rise in cases, days ahead of Christmas and New Year. The latest health crisis is reportedly taking a toll on financial markets likely impacting the global economic recovery.

In India, New Delhi Chief Minister Arvind Kejriwal urged citizens to wear masks. An appeal was also made to the Central government to allow the inoculation of booster vaccine doses. The country has so far reported 200 cases of the variant across 12 states.

A suspected cluster of cases at a gym in Singapore, is being tested to determine whether Omicron was behind the outbreak. In Japan, a single cluster at a military base has grown to at least 180 cases.

The variant has claimed the life of an unvaccinated man in the US, where the Omicron strain has become dominant in the country. The U.S has also been added to the "no-fly" list by Israel.

UK has reported the situation as "extremely difficult" with hospitalisations rising steeply in London. The government has not ruled out any measures, including limiting tourism, if the need arises.

New Zealand COVID-19 Response Minister Chris Hipkins said his country, which imposed some of the world's toughest COVID-19 measures, was delaying the start of a planned staggered reopening of its border until the end of February reported Reuters.

Australia has urged state and territory leaders to avoid further lockdowns. The country has reported a surge in Omicron cases, hospitalisations however remain relatively low.

The Omicron variant first detected in southern Africa last month, has now been reported in at least 89 countries.

The World Health Organization (WHO) warned it is spreading faster than the Delta variant. It is infecting people who are already vaccinated and those who have recovered from COVID-19. The severity of the illness however, still remains unclear.