Stocks in Europe rebounded and U.S. equity futures rose along with Treasury yields as a semblance of calm returned to global markets while investors reconsidered their worst-case scenarios for the omicron coronavirus strain.
Investors are trying to work out if the omicron outbreak will be a relatively brief scare that markets rebound from or a bigger blow to the global economic recovery.
Much remains unanswered about the new strain: South African health scientists suggested it’s presenting with mild symptoms so far, though it appears to be more transmissible, but the World Health Organization warned it could fuel future surges of Covid-19 with severe consequences.
