European shares rise, Asia declines, eyeing Fed, omicron

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — European benchmarks have risen after Asian shares mostly declined following a retreat on Wall Street. Oil prices and U.S. futures advanced on Tuesday. Investors are keeping an eye on rising numbers of coronavirus cases, especially in China, where a third city has locked down its residents because of COVID-19, raising the number confined to their homes to about 20 million people. Such disruptions can have region-wide implications for trade and other activity. Market players have grown more cautious after the Federal Reserve indicated last week that it might move to cap inflation by raising interest rates as soon as March.