The positive outlook for world stock markets stopped at a 2-week high and oil prices fell on Thursday after increased restrictions in parts of the world to curb the spread of the Omicron Covid-19 variant have dampened investor confidence in the economic recovery.
European stocks closed lower after opening a session high while Wall Street stocks showed a negative performance and Japan’s Nikkei blue -chip stock index slipped half a percent.
U.S. treasury yields retreated from 3 consecutive days of gains on a 10-year benchmark note after data once again showed a disappointing labor market ahead of Friday’s inflation meeting that could affect Federal Reserve (Fed) policymakers.
The yield on 10 -year treasury notes fell 1.5% and declined 1.8 basis points at 1.491%.
Meanwhile, the dollar rose against a basket of currencies as warnings from the International Monetary Fund's chief economist added to Omicron's concerns and a lack of interest in the currency as well as other assets deemed 'risky'.
The dollar index, which measures a number of currencies against 6 other currencies, rose 0.27% at 96.214 while the Euro fell 0.42% at $ 1.1294 and the Yen milked 0.21% at $ 113.42.
The Wall Street market saw the Dow Jones Industrial average index bounce but close unchanged while the S&P 500 was down 0.72% and the Nasdaq Composite was down 1.71%.
The healthcare and consumer needs sector is 2 of the 11 profitable S&P sectors.
The MSCI worldwide index was down 0.60% and the STOXX Europe 600 broad index fell 0.08% but market shares were up 0.54%.
Oil prices fell after several world governments implemented measures to curb the spread of Omicron while rating downgrades by two Chinese property developers have sparked concerns over the economy of the world's largest oil importer.
China’s CSI300 blue -chip stock index rose 1.7% and rose 3.6% this week.
Brent crude oil price fell $ 1.40 at $ 74.42 a barrel while US crude oil price fell $ 1.42 at $ 70.94 a barrel.
Gold fell after the dollar strengthened with gold futures down 0.5% at $ 1,776.70 an ounce.
Bitcoin was down 5.70% at $ 47,645.13.
