Tech rally lifts Wall Street from Omicron-driven slump By Reuters – Investing.com

Tech rally lifts Wall Street from Omicron-driven slump By Reuters – Investing.com

By Ambar Warrick and Devik Jain

(Reuters) - Gains in heavyweight technology stocks drove Wall Street indexes higher on Monday as investors rushed to take advantage of steep virus-driven losses, with Twitter up on reports that chief Jack Dorsey is expected to step down.

The S&P technology and the communication services subindexes jumped more than 1% each, indicating that investors were likely favoring pandemic-resistant technology stocks amid growing fears of the newly discovered Omicron variant.