Naomi Robnick in London, William Langley in Hong Kong, Nicholas Megau in New York
US stocks partially recovered on Monday after news of the Omicron coronavirus variant triggered a sharp sale late last week as investors settled in a period of new uncertainty about the pandemic.
Wall Street’s Benchmark S & P 500 Index rose 1.3% after falling 2.3% in a truncated trading session on Friday.
Technology stocks, which were the biggest winners in the early stages of the pandemic, drove the rise again on Monday. The technology-intensive Nasdaq Composite rose 1.9%, while the exchange’s largest company, the Nasdaq 100 Index, rose 2.3%, reversing all Friday losses.
Analysts, however, warned that the market remains volatile as investors have been waiting for more information about the potential for new varieties that will change the course of economic growth.
Yields on US benchmark 10-year Treasuries, which rise as prices fall, rose 0.03 percentage points to 1.51 percent. Friday recorded the sharpest price increase since March 2020 as investors sought assets in “shelters.”
The euro fell 0.3% against the dollar to $ 1.128 after countries across the EU issued travel bans.
Vix, an indicator of S & P 500’s expected volatility, fell from its highest level since March, but remained slightly higher at 23 readings. The long-term average is about 20.
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