In Asian Equity Markets stocks fell on Friday as traders edged away from riskier assets amid renewed concerns about COVID-19 and caution ahead of key U.S. inflation data, which also kept currencies in check. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.6 percent, snapping three days of gains and Japan’s Nikkei shed 0.5 percent. The broader Topix lost 0.77 percent to 1,975.48 and rose 0.9 percent for the week. The S&P/ASX 200 index ended 0.4 percent lower at 7,353.50, but recorded a weekly gain of 1.6 percent.

In Currency Markets the dollar was firm on Friday as traders wagered U.S. inflation figures could settle the course of interest rate rises next year, while the Chinese yuan regained its footing after being knocked back by official policy. The euro lost 0.4 percent on Thursday and was steady in Asia at $1.1297. The yen was last steady at 113.51 per dollar. The Aussie has bounced back hard from 70 cents to hover around $0.7149. Sterling has been under pressure as England has tightened restrictions to try and curb the spread of the Omicron variant. It last bought $1.3220.

In US Equity Markets stocks closed lower on Thursday as investors banked some profits after three straight days of gains and turned their focus toward upcoming inflation data and how it might influence the Federal Reserve’s meeting next week. The Dow fell 0.06 points to 35,754.69, the S&P 500 lost 0.72 percent, to 4,667.45 and the Nasdaq Composite fell 1.71 percent, to 15,517.37. Nine of the 11 major S&P sectors declined, with consumer discretionary down 1.7 percent, losing the most and real estate, down 1.4 percent, and information technology falling 1 percent, showing the next biggest losses.

In Commodities Markets oil prices fell on Thursday on fears about the economic outlook in the world’s biggest oil importer following ratings downgrades to two Chinese property developers, and after some governments took measures to fight the Omicron variant of the coronavirus. Brent crude futures lost 1.9 percent, to $74.42 a barrel. U.S. WTI crude futures were down 2 percent, at $70.94 after hitting a peak of $73.34. Spot gold was down 0.3 percent at $1,776.56 per ounce. Spot silver fell 1.7 percent to $22.02 per ounce, platinum lost 1.9 percent to $938.50 and palladium fell 2 percent to $1,817.68.

In European Equity Markets stocks ended lower on Thursday, pressured by COVID-19 worries with highly valued technology stocks continuing their slide while falling oil prices weighed on energy companies. The pan-European STOXX 600 erased early gains to decrease 0.1 percent, continuing a mid-week wobble on concerns the newly discovered Omicron coronavirus variant could dent global economic recovery as governments ramp up measures to slow its spread. European oil majors BP, Royal Dutch Shell and TotalEnergies fell between 0.6 percent and 1.5 percent.

In Bond Markets U.S. Treasury yields retreated on Thursday, reversing course following three straight days of gains for the 10-year yield, after data on the labor market and ahead of a key reading on inflation. The yield on 10-year Treasury notes was down 2.2 basis points to 1.487 percent. The yield on the 30-year Treasury bond was down 0.5 basis point to 1.870 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.3 basis points at 0.682 percent.