Wall Street collapsed as a result of Omicron concerns ahead of the Fed meeting

Investors were concerned about the Omicron coronavirus variant ahead of a Federal Reserve meeting later this week, posting portions of Carnival Corp and several tumbling planes on Monday. Travel-related products fell, with the spread rate spreading rapidly for roughly 40% of COVID-19 infections in London and at least one death in the UK.

The US moved significantly lower on Monday, December 13, 2021, with the S&P 500, Dow, and Nasdaq all ending below the neutral line. The decline on Wall Street comes as investors invested in some of the energy seen in markets last week amid concerns about the Omicron coronavirus variant and caution ahead of the announcement of the Federal Reserve’s monetary policy announcement on Thursday.

At the end of the trading session, the Dow Jones industrial average fell 320.04 points, or 0.89%, to 35,650.95. The S & P500 index dropped 43.05 points, or 0.91%, to 4,668.97. The Nasdaq index of heavy-duty technology dropped 217.32 points, or 1.39%, to 15,413.28. The total volume change on US exchanges stood at 9.34 billion shares. Decreasing stocks outperformed on the NASDAQ, 1311 cases progressed, 3365 cases rejected, and 213 cases remained unchanged.

A total of 7 of the 11 major S&P 500 industry indices declined, with performance issues below being strength (down 2.77%), consumer discretion (down 2.44%), information technology (down 1.62%), and expenses (down 1.15%), while higher making cases with real estate (up 1.32%), utilities (up 1.2%), and health (up 0.9%).

Investors are anxiously awaiting the announcement of Fed policy chairman Jerome Powell to determine the speed of his monthly purchasing program, as he seeks to address the ongoing inflation. The Fed is on Wednesday expected to signal a rapid windfall of its $ 120 billion in a one-month savings plan in a bid to fight higher inflation, which could move one step closer to raising interest rate. Fears over the Omicron variant of COVID-19 have increased after British Prime Minister Boris Johnson warned of a wave of new cases, and the World Health Organization says it is a very high global risk, with little evidence that it avoids vaccine protection.

Travel-related stocks fell, with rapid disparities spreading around 40% of Covid-19 infections in London and at least one death in the United Kingdom. Carnival Corp, Norwegian Cruise Line Holdings and Royal Caribbean Cruises all dropped more than 5%. Arena Pharmaceuticals shares increased after Pfizer agreed to acquire a technology company for $ 6.7 billion, or $ 100 per share. Arena Pharmaceuticals is developing CAR-T technology and is developing a drug for ulcerative colitis.

Among Indian ADR, Wipro fell 0.23% to $ 8.65, INFOSYS fell 2.5% to $ 22.61, HDFC Bank fell 0.37% to $ 65.10, WNS Holdings fell 0.63% to $ 85.30, Tata Motors fell 2.44% to $ 31.CI25. . Azure Power Global rose 5% to $ 19.10 and Dr Reddys Labs rose 0.31% to $ 60.63.

We will be happy to hear your thoughts

      Leave a Reply

      AppleiPhonestop - Apple iPhone News and Rumours All Day
      Logo
      Enable registration in settings - general
      Compare items
      • Laptops (0)
      Compare
      0