Stock futures slide as omicron fears return – Fox Business

U.S. stock futures broadly declined, extending a period of volatile trading since the detection of the Omicron variant of Covid-19.

Futures on the S&P 500 were down 0.9% and futures tied to the Dow Jones Industrial Average declined 1.1%. Changes in futures don’t necessarily predict moves after the opening bell.

In commodities, international benchmark Brent crude declined 2.1% to $71.70 a barrel. Gold was up 0.5% to $1,791.90 a troy ounce.

FED CHAIR POWELL TO TELL CONGRESS THAT OMICRON VARIANT COULD THREATEN US ECONOMIC RECOVERY

nyse trader140418 b

Trader Vincent Napolitano works on the floor of the New York Stock Exchange, Monday, Dec. 3, 2018. (AP Photo/Richard Drew)

The yield on 10-year U.S. Treasury slipped to 1.460% from 1.529%. Bond yields move inversely to prices. The German 10-year bund yield fell to minus 0.327% and 10-year U.K. government debt known as gilts yields fell to 0.826%.

In Europe, the Stoxx Europe 600 lost 1% in morning trade dragged down by declines in consumer staples and healthcare sectors.

The U.K.’s FTSE 100 was lower 1%. Other stock indexes in Europe also mostly fell as France’s CAC 40 was down 1.2%, the U.K.’s FTSE 250 shed 0.7% and Germany’s DAX was down 1%.

COVID-19 VACCINE EFFECTIVENESS WILL LIKELY DROP AGAINST OMICRON VARIANT, MODERNA CEO SAYS

The Swiss franc and the euro strengthened 0.2% and 0.4% respectively against the U.S. dollar and the British pound was mostly flat against the dollar, with 1 pound buying $1.33.

Stocks in Asia were mixed as China’s benchmark Shanghai Composite was largely flat, whereas Hong Kong’s Hang Seng lost 1.9% and Japan’s Nikkei 225 index shed 1.6% after gaining 1.4% during the session.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Stocks in Asia were mixed as China’s benchmark Shanghai Composite was largely flat, whereas Hong Kong’s Hang Seng lost 1.9% and Japan’s Nikkei 225 index shed 1.6% after gaining 1.4% during the session.