Daily Morning Note | December 02, 2021
Asian stocks look set to fall Thursday after a sharp reversal in U.S. shares on concerns about risks from the omicron strain and as Jerome Powell reiterated a pivot toward potentially tapering stimulus more quickly.
Australian equities dropped and futures for Japan and Hong Kong pointed lower, while U.S. contracts edged up. The S&P 500 posted its worst two-day selloff since October 2020 after erasing a near-2% rally to slide into the close. The technology-heavy Nasdaq 100 underperformed.
Markets were jolted by the first confirmed U.S. case of the new variant, whose emergence has brought fresh…
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