The market did not drop because of Omicron variant. Omicron has been in the news for weeks.
$SPDR Dow Jones Industrial Average Trust(DIA.US$ $Invesco QQQ Trust(QQQ.US$ $Invesco QQQ Trust(QQQ.US$ This is a general post about event being fit onto market action after the fact. It is so silly. Why didn't anyone say "Market up the last 5 days due to Omicron variant" ? I could find 20 events, both positive and negative, that could be used to explain why the market went up or down. If the market was up today, no one would talk about omicron , they'd talk about some peace treaty somewhere.
Heat wave! Climate change! Market goes down. Ooops, when that was the news, the market went up. Condo collapse! Market goes up. Europe flooding! Market goes down. Nope, it went up.
Omicron variant has been in the news for weeks, and NOW the market goes down because of Omicron ? Maybe yesterday the market went up because of Omicron. Just as stupid.
Ignore all news. The market dropped because there were more sellers than buyers. The scapegoat just happens to be some arbitrary event.
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Quentrell : Just cause it’s been in the news for weeks doesn’t mean new developments don’t happen. Recent EU lockdowns for example.
Rivkal : Lockdowns in Europe definitely had an impact on the market. Just look at European and Asian indices today.
102760870 : Huh ! so sad only now you realised !
Howardy : $Novavax (NVAX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ omicron data looking good for Novavax