shev143, it most certainly is assur.
The Shulchan Aruch/Rema says it is assur to show public affection. Would you hold your best (same gender) friends hand in the street? No, because that would be showing chiba. It is strictly forbidden to do so with your wife in public. Anyone who fears gehenim will certainly not do so. Unfortunately there are some “frum” people who aren’t afraid of gehenim.