Stocks globally rallied by the most in over a year on Tuesday, with investors encouraged by signs that the Omicron coronavirus variant may prove less serious than feared as well as signals from Chinese authorities that they are willing to stimulate the country’s slowing economy.
The FTSE All World share index rose 2.1 per cent, marking its best day since November 2020, while the S&P 500 and Nasdaq Composite indices in the US enjoyed their biggest one-day gains since March.
The S&P 500 closed 2.1 per cent higher, bringing it within 0.5 per cent of the record closing price it hit before the new variant was first reported last month.
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