On Monday, all three key indices of Wall St. had beaten a hasty retreat, as investors betting on growth stocks over recent past appeared to have turned their tails amid frets over a rapid spread of Omicron variant, which is now accountable for roughly 40 per cent pandemic cases in London. On top of that, an increase in investors’ caution ahead of a US Federal Reserve policy meet scheduled to take place by December 14 and December 15, had added to further strains. In tandem, S&P 500 led the freefall in the day’s heavy shelling in Wall Street with all of its eleven sub-indices but defensives such as utilities and real estate, had closed out the session in red inks, while travel and entertainment sectors bore the heaviest brunt.
Wall St. falls sharply as omicron stems new restrictions
Citing statistics, in the day’s Wall St wind-down, trade-sensitive Dow faltered 0.87 per cent and benchmark S&P 500 shed 0.92 per cent, while tech-heavy Nasdaq was nudged as much as 1.41 per cent to 15,409.72.
Meanwhile, addressing to investors’ uncertainty ahead of Dec 14-Dec 15 policy meet alongside a sharp shoot-up in omicron cases, a senior portfolio manager at Globalt Investments in Atlanta, Tom Martin said, “It's transportation, restaurants, all the things that if it got bad enough that we started putting new restrictions on people, it would not be good for them.
They have all been bid over the past several months by the idea that we were going to get back to business as usual”.