January 28, 2022

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U.S. stocks are falling, feeding on fears of Omigron diffusion controls

D Shreyashi Sanyal e Anisha Sirkar

(Reuters) – Wall Street is losing more than 1%, citing the impact of new restrictions on the world economy due to the Covit-19 and the catastrophic setback for US President Joe Biden’s investment bill.

At 16.35 Italian time, the Dow Jones was down 620.02 points, or 1.75%, at 34,736.69, while the S&P 500 was down 68.99 points, or 1.51%, at 4,548.71, while the Nasdaq was down 6.71% at 207.41.49.

As Britain and many European countries begin to consider restrictions on the Christmas season, the growing number of global infections of the omigran variant of the corona virus has sparked fears in financial markets.

The travel industry loses ground when the S&P 1500 Airlines Index falls 2.0%. The Royal Caribbean Group fell 1.8% after 48 people aboard the Symphony of the Seas reported a positive test for Covit-19.

All 11 sectors of the S&P 500 traded lower at the start of the session, with the energy sector losing 3% as crude oil prices fell to about $ 3.

The technology sector, telecommunications and consumer preferences sector have been extending their losses since the last session.

To further punish market sentiment, U.S. Senator Joe Manzin said yesterday that he would not support Biden’s $ 1.750 billion investment bill.

Following Mansin’s comments, Goldman Sachs downgraded U.S. GDP estimates to 2022.

These improvements come after the Federal Reserve decided last week to quickly end the pace of stimulus measures in anticipation of at least three interest rate hikes – 0.25% each – by the end of 2022.

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Oracle loses 3% after announcing acquisition of Cerner for $ 28.3 billion.

(Translated into Gdansk by Enrico Ciacovelly, edited by Stefano Bernabeu in Rome)