The Covid-19 variant, Omicron, keeps causing volatility in the markets. Due to the uncertainty, many stocks around the globe were affected. Today, American stocks continue with a volatile trend, and they finished a week of loss. American indices dropped significantly and a big amount of investors sold their tech and bank stocks. The Dow Jones index fell 530 points, or 1.5%. On the other hand, the Nasdaq Composite dropped 1%, meanwhile, for a second day the S&P 500 suffered a loss of 1.2%.
Financial companies were among the most affected by today’s losses. Goldman Sachs dropped around 4%, while Bank of America y JPMorgan around 2%.
Stocks of several tech companies kept red numbers as well. Some of the biggest players in this industry were affected. Microsoft and Amazon lost today 1%. This completes a full negative week for Microsoft, which lost over 6% in total. Also, Apple had a rough week with losses near 5%.
These problems caused by the Omicron variant over the tech area alerted investors. The indices’ averages had a negative week on this regard. Nasdaq was the biggest loser, it had around 4% on losses. Dow Jones and S&P 500 dropped 1%. This is why some stakeholders decided to change their investments market to consumer staples.
In spite of negative numbers on US markets, Covid vaccine manufacturers have stayed strong, such as Moderna and Pfizer, which had weekly returns of 14.7% and 12.7% respectively. After the news about Pfizer’s booster shot being effective against the Omicron variant, it is likely that its stock price could increase.
Market volatility is unpredictable, which is why it is necessary to do your own research before making a decision.
Do you think now is a good time to invest and take advantage of the dips?
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