Global stocks held on to their recent gains on Wednesday, inching closer towards record highs after a strong rally in the previous session.
Wall Street’s blue-chip S&P 500 share index rose 0.3 per cent, wiping out almost all the losses suffered after the discovery of the Omicron coronavirus variant and closing just 0.1 per cent shy of its all-time high. The tech-heavy Nasdaq Composite climbed 0.6 per cent.
Equity markets have whipsawed in the past fortnight as investors have worried about the potential effect of Omicron and the Federal Reserve signalling its willingness to speed up its tightening of monetary policy.
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