Global stock markets experienced volatile trading on Thursday as investors and governments scrambled to respond to the Omicron coronavirus variant.
US equities rebounded after a sharp drop late on Wednesday, but European markets stumbled and Wall Street’s so-called fear gauge signalled that investors expect further ructions.
The S&P 500 rose 1.4 per cent, led by economically sensitive sectors such as banks and industrial companies, which partially recovered some of the losses notched up in the previous two sessions. A day earlier, the benchmark share index had gained in early dealings before swinging to a 1.2 per cent loss after the first confirmed case of the Omicron variant was identified in the US. The more tech-heavy Nasdaq rose 0.8 per cent on Thursday.