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Asian stocks fall on concerns about Omicron variant, Fed policy

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Asian stocks fall on concerns about Omicron variant, tighter Fed policy

Asian stock markets followed Wall Street lower on Monday amid concern about the coronavirus's latest variant and tighterShanghai, Tokyo, Hong Kong, and Sydney retreated at the start of a trading week that ends with many closing early for Christmas.

"Omicron threatens to be the Grinch to rob Christmas," Mizuho Bank's Vishnu Varathan said in a report. The market"prefers safety to nasty surprises." Last week, stocks briefly rallied but then fell after Fed officials said they were willing to speed up the withdrawal of stimulus that has boosted financial markets.on Sunday he wouldn't support President Joe Biden's $2 trillion infrastructure, social spending, and climate plan. Manchin's announcement possibly dooms the plan's chances in the evenly split Senate.

 

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