Shares and oil prices rise after the words of Omicron and Powell fall

Asian currencies soared and oil prices soared Wednesday after a series of punishments in which the economic impact of the Omicron coronavirus and hawkish comments from the U.S. Federal Reserve chairman skyrocketed in international markets.

Many markets in Asia on Wednesday lost money from the previous section, with Hong Kong’s Hang Seng index rising 1.4 percent and Japan’s Topix rising 0.7 percent.

Futures markets following the Stoxx 600 European index rose 0.7 percent and those following Wall Street’s S&P 500 were up about 1 percent. The FTSE 100 is expected to rise by 0.6 percent.

The move came as the market went down on Tuesday, with Moderna’s chief vaccinators using the interviews with and Financial Times predicting that existing jabs may not be more effective in dealing with Omicron than older types of coronavirus.

The collapse of the global economy intensified when the Fed took office Jay Powell signed to help tighten monetary tightness with the US central bank to curb rising inflation, although there will be a financial crisis due to the new changes.

The S&P 500 closed about 2 percent, while the technical Nasdaq fell by 1.6%. Powell’s comments also strengthened short-term Treasury yields, which followed the expected interest rate, and strengthened long-term yields, which followed growth rates and inflation expectations. Yields flow irregularly with bond prices.

Luca Paolini, chief technical officer at Pictet Asset Management, said Omicron’s departure may have led to asset managers making a profit after S&P and Stoxx hit earlier this month.

“We did not stay where we were in April 2020,” he said. “We know a lot about the virus now and people are ready to deal with it.” “This was an excuse for those who earned a lot of money during the year to close out other profits.”

Experts still warn that Omicron could disrupting the growth of the world, as most of the wealth seems to be flowing well from the Delta nation.

“The emergence of the Omicron genus coronavirus poses a new threat to global economic growth and rising prices,” said Madhavi Bokil, senior vice president of economics and research at Moody’s.

Bokil added that although Omicron’s knowledge and policy frameworks had not changed the predictions of the agency’s growth, travel restrictions “will increase in the coming weeks” as governments try to reduce the spread of these species.

Oil prices also recovered from a sharp fall in the previous quarter. Brent crude, a global brand, rose 2.7 percent at $ 71.12 a barrel fell nearly 4 percent on Tuesday. West Texas Intermediate, a US penitentiary, rose 2.6 percent a day to $ 67.91, as consumer interest shifts to the Opec + conference this weekend, when the group will decide to suspend additional plans.