Stocks fell in Tokyo and Paris, while they rose in Seoul and Hong Kong. They were almost unchanged in London. As another year of strong stocks approaches its close, financial markets in the United States, Germany, and other countries took the day off.
Wall Street’s benchmark S&P 500 index climbed 0.6% on Wednesday as investors worried about the impact of the omicron variant on the economy. Although the coronavirus variant may cause less severe disease, officials have suggested that it might be less common. President Joe Biden called on more testing and vaccinations but did not announce any travel restrictions.
Edward Moya, Oanda reported that Omicron appears to be a “short term disruption” rather than a “destructive headingwind that disrupts the economy’s course.” “The U.S. economy recovery looks strong in 2022.”
There is much to be learned about the spread of omicron. Many major airlines cancelled dozens of flights Friday due to sick workers.
Asia’s Nikkei225 in Tokyo fell 0.1%, Hong Kong’s Hang Seng rose 0.1%, and Seoul’s Kospi grew 0.5%. Stocks in Shanghai dipped 0.7%.
France’s CAC 40 fell 0.3% in Europe and London’s FTSE 100 declined by 0.1%.
Investors have been trying to assess the impact of the omicron case surge on corporate profits in 2022. Europe and Asia have increased travel restrictions or reversed plans to loosen existing ones.
The United States is experiencing an almost four-decade-high level of inflation. The Federal Reserve has decided to accelerate the withdrawal from economic stimulus that had been driving stock prices up.
The price of Brent crude oil reached $76.14 after a 71-cent increase in energy markets.
