Shares of companies in industries that had been bouncing back in recent months, like airlines and other travel firms, took big hits as governments reintroduced limits on movement across borders.
On Monday, with quick answers about the threat from Omicron hard to come by, investors seemed to focus on the possibilities other than disaster and some of Friday’s moves were undone.
In October 2020, a resurgence of cases led to a drop of 5.6 percent over a few days, but markets had rebounded within a week.
Futures of the two major oil benchmarks, Brent crude and West Texas Intermediate, gained 3 percent and 4 percent.
The yield on 10-year Treasury notes rose 5 basis points, or 0.05 percentage points, to 1.53 percent.
Concerns over newly-imposed travel restrictions had mostly eased on Monday, with travel and leisure stocks trading higher by midday.