NEW YORK: A gauge of global equity markets retreated from early gains on Wednesday as concerns about the first U.S. case of the Omicron variant and sooner-than-expected interest rate hikes next year by the Federal Reserve turned investor sentiment bearish.
The major economic sectors on Wall Street earlier were a sea of green while European stocks posted their best session in almost six months after Tuesday's sharp sell-off triggered by unease over rising inflation and questions regarding the new variant of the coronavirus.