U.S and European equity futures slid along with Asian stocks Tuesday on worries about the effectiveness of current vaccines against the omicron strain, doubts that stoked demand for havens including Treasuries.
S&P 500 contracts fell more than 1% at one point and the U.S. 10-year Treasury yield sank below the levels hit Friday, when omicron-induced fears for global economic reopening first roiled markets. Crude oiltumbled, commodity-linked currencies were in the red, the yenadvanced and gold climbed.
Moderna Inc.’s Chief Executive Officer Stephane Bancel told the Financial Times that existing vaccines will be less effective at tackling omicron and it may take months before variant-specific jabs are available at scale.
Federal Reserve Chair Jerome Powell said omicron poses risks to both sides of the central bank’s mandate for stable prices and maximum employment. That stoked speculation the strain could delay interest-rate hikes.
The aversion to riskier assets buffeted cryptocurrencies, with Bitcoin dropping toward $56,000.
The vaccine doubts overshadowed positive data from China, which showed factory sentiment improved in November as the impact of a power crunch subsided and inflation pressures eased.
US After Hours GBDC +2% rises on earnings while ARRY -6% declines on convertible senior notes offering
Nikkei -1,63% Hang Seng -2,24% CSI -0,51% Shanghai -0,11% Shenzen -0,08%
Eur$ 1,1325 CNH 6,3767 CNY 6,3721 JPY 113,09 GBP 1,3325 CHF 0,9209 RUB 74,99 TRY 12,8562 WTI$ 67,50 GOLD 1,794 BTC 56,560 -1770 ETH 4415 -35
S&P -0,82% Nasdaq -0,34% EuroStoxx -1,63% FTSE -1,32% Dax -1,43% SMI -1,14%
Macro :
- *CHINA NOV. MANUFACTURING PMI AT 50.1; EST. 49.7
- Biden Says No New Travel Bans, Shutdowns Expected Due to Omicron
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