Stocks Rise as Investors Shrug Off Omicron Worries

This article from Wall Street Journal is written by Caitlin Ostroff, Alexander Osipovich, and Frances Yoon

Stocks and oil prices bounced back from Friday’s selloff, with investors betting that the Omicron Covid-19 variant will cause less damage to the global economic recovery than initially feared.

The S&P 500 jumped 1.7% in afternoon trading Monday, recouping many of its losses after the index suffered its worst one-day percentage decline in nine months. Friday’s selloff came after South Africa identified a fast-spreading strain of the coronavirus, which the World Health Organization has named Omicron, and countries around the world responded with a fresh wave of travel restrictions.

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