Omikron as a killjoy

Global stock markets started November with the momentum of a positive reporting season in the third quarter. Statements made by the US Federal Reserve in the course of the month regarding a gradual reduction in bond purchases and possible earlier interest rate steps have also been anticipated by the market. The rapidly rising inflation as part of the economic recovery is seen as a danger, but many market participants still see this as a temporary phenomenon.

Shortly before the end of the month, the Covid-19 pandemic has then again become the big spoiler: The newly discovered virus variant Omikron brought the markets to their knees and caused volatility to rise sharply. Travel restrictions, further supply and personnel bottlenecks and possible lockdowns have spoiled investors’ mood.