For the first time in two years, the coronavirus is not the No. 1 issue affecting global markets. Instead, oil prices—and the war in Ukraine—have become the top disruptors slowing trade and driving up costs.
That doesn’t mean COVID is going away just yet. Governments have been lifting restrictions imposed to slow its spread, including rules governing travel, socializing, mask wearing, and self-isolation. But still it lingers, and in some countries it is thriving.