Dow drops 900 points after first case of Omicron variant in U.S. revealed – CBS News

The wild movements are partly the result of investors struggling to handicap how much damage the newest coronavirus variant will do to the economy.

But since climbing out of its early 2020 collapse caused by the first wave of COVID-19, one hallmark of the stock market’s powerful run has been the continued willingness by bargain-hunting investors to buy following any dip in prices.

A stronger economy would burn more fuel, and crude oil prices initially rose, sending Benchmark U.S.

A measure of fear on Wall Street also eased, falling more than 15%.

The possibility of less help for markets from the Fed continues to hang over Wall Street.

That would open the door for the Fed to raise short-term interest rates, diluting one of the main reasons for the S&P 500’s more than doubling since late March 2020.

Analysts also warn that the market is likely to remain jumpy until more clarity arrives on Omicron’s ultimate impact.

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