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Markets tumble as omicron variant threatens recovery

Australian shares are set to tumble on Monday as worries about the new omicron COVID-19 variant quickly escalated over the weekend, sapping global equity and commodity markets and triggering a rush to haven assets.

A drop for Australian share futures after markets closed last week implies a 1.4 per cent decline for the S&P/ASX 200 index on Monday, compounding the blue-chip benchmark’s 1.7 per cent fall on Friday.

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Richard Henderson is a markets reporter based in our Melbourne newsroom. Connect with Richard on Twitter. Email Richard at richard.henderson@afr.com.au

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    Original URL: https://www.afr.com/link/follow-20180101-p59crv