Global shares slide as central bankers tackle surging inflation while Omicron spreads

Global shares slide as central bankers tackle surging inflation while Omicron spreads

Global stocks fell Friday, coming under pressure from investor concern over the pickup in central-bank action to tackle surging inflation, at a time when the Omicron coronavirus variant threatens to derail the battle against COVID-19. The was last down 0.2%, heading for its fifth weekly loss in six weeks. US stock futures traded lower, with those on the losing 0.4%. futures fell 0.1%, and futures dropped 0.9%. This week, central bankers around the world have either raised interest rates, or cut back on economic stimulus — or signaled that they would do one or both — as rising consumer prices put pressure on growth. The Federal Reserve struck a more hawkish tone at its December meeting. It signaled Wednesday it might need to raise US interest rates three times next year, and said it would wind down its asset-purchase program at twice the current rate, bringing it to an end by March. On Thursday, the for the first time since 2018. The surprise move came just as the UK government introduced measures to tackle the spread of Omicron, against a backdrop of political instability. The European Central Bank said Thursday it will cut its bond purchases in three months' time,