Stock and oil prices Gave up further reasons After the rapid spread of the Omicron coronavirus variant prompted the governments of developed countries to re-impose the lockdown, it frightened investors who feared that the epidemic might once again stifle the global economic recovery.

The FTSE Global Index fell 1.3%, its biggest one-day drop since shortly after the discovery of the new variant last month. The Wall Street S&P 500 index also fell 1.1% after falling 1% on Friday, led by stocks in economically sensitive industries such as finance, raw materials and consumer goods.

The Nasdaq Composite Index, which is dominated by technology stocks, fell 1.2%. Oil prices are also under huge selling pressure. The international benchmark Brent crude fell 2.7% to US$71.52 per barrel, while the US benchmark West Texas Intermediate crude fell 3.7% to US$68.23 per barrel.

Deutsche Bank strategist Jim Reid said that Omicron is “one of the biggest problems facing the market right now” because it “casts a shadow on the outlook before the end of the year.”

In Asia, the Hong Kong Hang Seng Index fell 1.9% yesterday, and the Tokyo Nikkei 225 Index fell 2.1%.

Thank you for reading FirstFT Asia. This is the rest of the news today — Emily

There are five more stories in the news

1. The Turkish lira rebounds, Erdogan vows to cut interest rates “will not back down” Currency was hit after President Recep Tayyip Erdogan (Recep Tayyip Erdogan) Reject warning From companies on the dangers of recent interest rate cuts. The lira fell to a record low of TL18.36 against the US dollar yesterday, and then rebounded to TL14.8 in the chaotic trading at the end of the Turkish trading day.

2. Federal prosecutors call Maxwell and Epstein “work together” Prosecutor Alison Moh referred to Gislain Maxwell as “Complex predator Who knows what she is doing” because she urged the jurors to convict the British socialite as a sex trade. “She manipulated her victims and sexually abused them,” Mo said in her closing statement Say.

3. Chinese Internet celebrities suspended after being fined Huang Wei, known online as “Viya”, has Disappeared from AlibabaAfter the authorities fined her e-commerce platform Taobao for tax evasion, this dealt a major blow to the e-commerce giant’s struggle for the growing live shopping market.

4. Peng Shuai denied being sexually assaulted by Chinese officials Tennis star at the center of China’s biggest #MeToo scandal Denied claim Last month, she was sexually assaulted by a senior CCP official on her official Weibo.

5. The stock market and currency fell after the Chilean election results were announced Chile’s currency and its local stock market Fell sharply yesterday After Gabriel Boric, the leader of the left-wing coalition, including the Chilean Communist Party, won the country’s presidency by more than 11 percentage points.

Coronavirus Digest

• This People’s Bank of China Has reduced one of the country’s most important lending rates, which shows that the government Policy easing measures are being promoted To deal with the loss of economic power.

• Modern Said its Covid-19 booster injection can increase antibody levels 37 times, Compared with people who only received two doses.

• This World Economic Forum have Canceled its plan Due to the ongoing uncertainty of the Omicron variant, a face-to-face annual meeting will be held in Davos next month.

• This Novax Coronavirus vaccine has Recommended Use In the European Union, the European Medicines Agency team is responsible.

• Disagreement Worker autonomy As more flexible work trends accelerate, this proportion will expand in 2022. Pilita Clark wrote.

the day before

RBA announces minutes of December meeting The minutes of this month’s board of directors’ monetary policy meeting may reveal the central bank’s Bond purchase and its interest rate hike schedule. (Reuters)

Bank of Korea PPI data South Korea will release Producer price index Figures for November.At the same time, the government expects Inflation continues to heat up And exceeded the current forecast of the Bank of Korea. (Financial Times, Bloomberg)

Winter Solstice in the Northern Hemisphere Those ones Commemorative occasion In the UK, including the Druids of Stonehenge and the Burning Clock Parade in Brighton.

Other content we are reading and watching

The story of two elites in Washington and Beijing One of the few things that Republicans and Democrats agree on is that the United States should treat China as a serious and dangerous global competitor. Gideon Rahman wrote. Until recently, most Americans believed that the United States would maintain its technological advantage over China. This can no longer be taken for granted.

“Just in time” to “Just in case” Companies encountered obstacles in the supply chain and transportation bottlenecks during the pandemic, forcing Rethinking corporate strategy This includes increasing their inventory on hand to sign long-term contracts with suppliers.

It’s not just working mothers who benefit from flexible work Heavy working hours leave some of the most naked blue-collars without room for family life Labor shortage in 2021. For more than a century, working mothers have been struggling to balance work and family pressures. Sarah O’Connor wrote that this shouldn’t be just their battle.

The biggest market moment in 2021 From the GameStop saga to the collapse of Archegos, financial markets feel like a long year. Market editor Katie Martin wrote that she summarized outstanding people Market moments in 2021.

South Korean politicians express concerns about crypto brain drain South Korean politicians appeal to public officials Stop joining a crypto company As the exchanges race to strengthen the compliance department, they get higher salaries. More and more financial regulators and police are leaving public service for cryptocurrency groups.

What to watch, listen to, and play during the holiday

Movies, TV shows, popular and classical albums, podcasts and games, our critics gather together Highlights of 2021. What have you enjoyed this year? Tell us in the comments below these stories.