European equities drop as Omicron reaches United States

LONDON - European stock markets slid on Thursday with sentiment hit by the first Omicron case in the United States, but oil rallied before an OPEC output call.

Nearing midday in the eurozone, Frankfurt and Paris shed 1.1 percent and 0.7 percent respectively after a mixed Asian session. News that a patient had come down with the new variant sent shivers through US investors who fear authorities will be forced to reintroduce strict containment measures or even lockdowns, derailing the recovery in the world's top economy.

Traders were already feeling uneasy in recent weeks on concerns about the sharp rise in prices around the world caused by supply chain snarls, a spike in energy costs and a labour shortage.

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