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Asian stocks dip as Omicron spreads, Fed decision looms

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Asian stocks and oil prices slipped on Tuesday as the spread of the Omicron coronavirus variant rattled investors who were already on edge ahead of a slew of central bank decisions this week, including a key Federal Reserve meeting.

The Fed is on Wednesday expected to signal a faster wind-down of its $120 billion a month bond buying programme in a move to fight high inflation, which could move it one step closer to raising interest rates.

"Volatility will remain elevated throughout all of decisions from the Fed, ECB, and BOE," said Edward Moya, senior analyst at OANDA.

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