- As investors assessed the economic implications of the omicron coronavirus outbreak, stocks fell and treasuries rose.
- Japan's stock market fell, Hong Kong's stock market fell, and China's stock market fell. Futures in the US fluctuated after the S&P500 and the Nasdaq100 fell on Tuesday, snapping a four-session winning streak. In some markets, volumes remained low until the end of the year.
- China's sentiment is being harmed by Beijing's tightening oversight of overseas share sales, as well as economic risks from a property slowdown. Authorities are expected to add stimulus to the economy's steady expansion next year.
- A key measure of interbank funding costs in China fell to its lowest level since January after the country's central bank injected more cash into the financial system to alleviate a seasonal surge in liquidity demand.
- Treasury yields in the US fell, and the dollar remained relatively unchanged. Crude oil has held near a one-month high, thanks in part to bets that the global recovery will be able to withstand omicron. Bitcoin was trading around $48,000 after a drop that suggested waning interest in the most speculative assets.
