Recession in Global Markets
Burc Oran
December 10, 2021
Recession in global markets

While the attention in global markets was turned to the US inflation data, studies on the Omicron variant lowered the risk appetite.

Developments such as real estate companies crisis in China before the critical US inflation data and study showing that the Omicron variant spread 4.2 times faster than Delta are causing the global Stock Exchanges to follow a selling course on the last trading day of the week.

US indices, which rose for three consecutive days during the week, fell on Thursday, led by the consumer-weighted real estate sector. While the Dow Jones closed flat, the S&P 500 fell 0.72 percent, and the Nasdaq 100 fell 1.49 percent. Futures indices are slightly up this morning.

On the other hand, Asia is falling, following yesterday’s US closings. In particular, eyes are on China Evergrande Group and Kaisa Group Holdings Ltd., which have officially defaulted on dollar bonds. In particular, eyes are on China Evergrande Group, and Kaisa Group Holdings Ltd. Evergrande shares fell around 2%, while Kaisa shares traded in Hong Kong were suspended. While the dollar was flat, the US crude oil barrel fell below $70.

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