Wall Street Tumbles at Open as Omicron Fear, Rate Backdrop Weigh; Dow Down 600 Pts By Investing.com – Investing.com
- Date: 20-Dec-2021
- Source: Investing.com
- Sector:Economy
- Country:Middle East
Wall Street Tumbles at Open as Omicron Fear, Rate Backdrop Weigh; Dow Down 600 Pts By Investing.com – Investing.com
By Geoffrey Smith
Investing.com -- U.S. stock markets started the weak in bearish fashion, with all three major indices falling over 1% in response to fears of another Covid-19 driven slowdown - this time accompanied by the prospect of rising interest rates.
By 9:45 AM ET (1445 GMT), the was down 601 points, or 1.7% at 34,764 points, while the and were both down 1.4%. The Dow, with its heavy weighting of cyclical stocks, underperformed as warnings of the spread of the new Omicron variant of Covid-19 stoked fears that people will shun mixing over the next few weeks, even if they are allowed to.
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