The sharemarket followed overseas markets down after the first case of the Omicron coronavirus variant was confirmed in the United States. READ MORE:* Synlait Milk outlook cheers investors worried by Omicron, higher interest rates* Sharemarket rebounds as investor mood calms over Omicron, interest rates* Sharemarket slips as higher market interest rates weigh on valuationsThe S&P 500 had been up 1.9 per cent following some better-than-expected readings on the US economy, but the gains gradually gave way to a 1.2 per cent skid. 123rf Sentiment around the new coronavirus variant Omicron is dominating markets. The wild movements are partly the result of investors struggling to handicap how much damage the newest coronavirus variant will do to the economy. Gordon said expectations for future interest rates had stabilised, which was benefiting some low-growth, yield sensitive stocks.

Source: Stuff December 02, 2021 16:01 UTC