Global stocks mixed after new virus variant spreads

BEIJING – European stocks and lipid prices rebounded Monday portion Asian markets fell further aft the coronavirus's omicron variant was recovered successful much countries and governments imposed question controls.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong declined, though losses were smaller than Friday's autumn aft reports the variant archetypal spotted successful South Africa appeared to dispersed astir the globe.

On Wall Street, the aboriginal for the benchmark S&P 500 scale was up 0.7%. The aboriginal for the Dow Jones Industrial Average gained 0.5%.

"Markets person rebounded this greeting pursuing reassuring noises implicit the play astir the severity of the Omicron," said Neil Shearing of Capital Economics successful a report. “But we’re improbable to person the afloat representation for respective weeks.”

In aboriginal trading, the FTSE 100 successful London roseate 0.8% to 7,100.22. The DAX successful Frankfurt gained 0.8% to 15,392.78 and the CAC 40 successful Paris precocious 1% to 3,808.48.

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On Friday, the S&P 500 fell 2.3% for its biggest regular nonaccomplishment since February. The Dow mislaid 2.5% portion the Nasdaq Composite retreated 2.2%.

Investors sold banks, vigor and hose stocks and shifted wealth into bonds and different harmless haven assets.

In Asia, the Nikkei 225 fell 1.6% to 28,283.92 after Japan announced it volition barroom introduction by foreigners starting Tuesday.

The Shanghai Composite Index mislaid little than 0.1% to 3,462.70 and the Hang Seng successful Hong Kong sank 0.9% to 23,852.24.

The Kospi successful Seoul declined 0.9% to 2,909.32 and Sydney's S&P-ASX 200 retreated 0.5% to 7,239.80.

India's Sensex gained 0.9% to 57,599.03. New Zealand, Singapore and Bangkok fell portion Jakarta advanced.

The World Health Organization called omicron “highly transmissible," but it was unclear whether it is much unsafe than earlier variants.

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Governments imposed caller question controls, fueling capitalist fears astir imaginable setbacks successful containing the pandemic that has killed much than 5 cardinal radical since the archetypal cases successful precocious 2019.

The caller variant was recovered successful Hong Kong, Belgium and Tel Aviv. The European Union, the United States and Britain imposed curbs connected question from Africa. Israel banned introduction by foreigners.

Also Monday, Japan's authorities reported retail income roseate 1.1% successful October implicit the erstwhile month. Vehicle income fell 6.7%.

The omicron variant mightiness complicate readying by cardinal banks that are deciding erstwhile and however to retreat stimulus that is boosting banal prices.

Investors were rattled past week erstwhile notes from the Federal Reserve's October gathering showed officials said they were acceptable to see raising involvement rates sooner than planned successful effect to higher inflation. The Fed antecedently said its archetypal complaint hike mightiness not travel until precocious 2022.

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In vigor markets, benchmark U.S. crude surged $3.50 to $71.65 per tube successful physics trading connected the New York Mercantile Exchange, rebounding from Friday's $10.24 plunge. Brent crude jumped $3.37 to $74.96 per tube successful London.

The dollar roseate to 113.36 Japanese yen from Friday's 113.19 yen. The euro roseate to $1.1272 from $1.1319.

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