Equities and oil prices gave up further ground on Monday after the rapid spread of the Omicron coronavirus variant prompted governments across the developed world to reimpose lockdowns, spooking investors who fear the pandemic may again choke off the global economic recovery.
The FTSE All-World Index fell 1.3 per cent, marking its worst one-day slide since shortly after the discovery of the new variant last month.
Wall Street’s S&P 500 also dropped 1.1 per cent after a 1 per cent fall on Friday, led lower by stocks in economically sensitive sectors such as financials, raw materials and consumer goods. The tech-heavy Nasdaq Composite fell 1.2 per cent.
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