Spreadex Market Update

Markets fall over growing concerns of Omicron variant



The FTSE opened in the green this morning as investors had their eyes fixed on meetings of the central banks around the globe occurring throughout the week.

However, most markets have now taken a large fall thanks to the gloom surrounding the spread of the Omicron variant increasing.

The FTSE 100 is currently -0.81%, CAC similar, but the DAX is managing to just keep its head above water.

The UK government have already announced Plan B, which reinstated some restrictions such as mandatory wearing of masks in most indoor venues.

But thanks to the rising number of cases and reports of a ‘tidal wave’ in January, many are fearing further restrictions will be imposed, especially now Boris confirmed the first death in the UK resulting from the new variant.

As expected, IAG are one of the biggest losers today, as they are down over 5% currently.

US markets traded slightly lower on open today, as investors look forward to the Fed monetary policy decision later this week.

This decision has taken on even more significance than it would normally, as many are trying to predict how policymakers will react to the growing inflation in response to the possible fresh wave of covid cases, after the discovery of the new variant.

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