World markets bounce back from omicron sell-offs

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — World shares have bounced back from selloff spurred by worries about how badly the omicron variant, inflation and other forces will hit the global economy. Shares in Europe and Asia rose and U.S. futures were higher. Oil prices also advanced. On Monday, the S&P 500 fell 1.1%, tracking similar drops across Europe and Asia. Markets are also absorbing a major setback for a proposed $2 billion U.S. government spending plan and the Federal Reserve’s move last week to more quickly exit from the tremendous support it’s providing the economy.