Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big...
BANGKOK — Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big threat to the economy.
Japan downgraded its growth estimate for the last quarter to minus-3.6% from an earlier reported contraction of 3.0%. The change reflected weaker consumer and public demand and trade and lower levels of private inventories. On Tuesday, the S&P 500 SPX rose 2.1% for its biggest gain since March, ending at 4,686.75. The Nasdaq COMP climbed 3% to 15,686.92 and the Dow Jones Industrials DJIA rose 1.4% to 35,719.43.
It will take a few more weeks to learn whether omicron is more contagious, causes more severe illness or evades immunity.
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