SYDNEY: Asian share markets fell and oil prices slid on Monday as surging Omicron COVID-19 cases triggered tighter curbs in Europe and threatened to swamp the global economy into the New Year.
Beijing lightened the mood a little by cutting one-year loan rates for the frost time in 20 months, though some had hoped for an easing in five-year rates as well.
Chinese blue chips still dipped 0.4%, while MSCI’s index of Asia-Pacific shares outside Japan fell 0.8%. Japan’s Nikkei dropped 1.7% and South Korean stocks 1.2%.
S&P 500 futures shed 0.8% and Nasdaq futures almost 1%. EUROSTOXX 50 futures lost 1.1% and FTSE futures 1.0%.
