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Wall Street Skids on Omicron Worry, Hit To U.S. Investment Bill

Wall Street skids on Omicron worry, hit to U.S. investment bill
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid

From: Reuters

Wall Street’s main indexes fell sharply on Monday as investors worried about the Omicron COVID-19 variant potentially undercutting the economic rebound and a critical setback to President Joe Biden’s domestic investment bill.

Stocks sold off broadly as coronavirus cases surged in New York City and around the United States over the weekend, dashing hopes for a more normal holiday season. Britain’s leader said he would take more steps to slow the spread of Omicron if needed, after the Netherlands began a fourth lockdown and as other European nations considered restrictions.

“I think (the stock market) is down over COVID fears and how those fears may extend the continuing supply-chain problems and how that will impact profits … for companies,” Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.

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