“If any new coronavirus variants are identified we will reconsider our border controls as needed,” said Japan’s Chief Cabinet Secretary Hirokazu Matsuno per Reuters.

The policymaker adds, “New covid variety that has yet to be discovered in Japan.”

Market reaction

The news adds strength to the virus-led risk-off mood in the markets and weighs on the US stock futures, as well as Treasury yields. It’s worth noting that the fears of the virus variant spreads outside Eurozone of late amid chatters that the new version, with a formal name of B.1.1.529, is linked to South Africa and is immune to the vaccines.

Read: Yields drop the most in a week, S&P 500 Futures down too amid risk-off mood