'Omicron Impact' New York Stock Market Falls Across the Board; Bonds Strengthen (Update)

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Major indices on the New York Stock Exchange reversed course and fell following news of the first Omicron COVID-19 variant infection case in the United States.

As of 3:30 PM local time on the 1st, the Dow Jones Industrial Average was down 0.6%, the S&P 500 was down 0.39%, and the Nasdaq was down 1.13%.

The major indices on the New York Stock Exchange had risen in the morning, recovering losses from the previous day, but turned to declines after news of the first Omicron variant case in the U.S. was reported.

With a growing preference for safe-haven assets, the yield on the 10-year U.S. Treasury bond, which had been rising toward 1.5%, reversed direction and fell to 1.429%. Meanwhile, the 2-year Treasury yield rose sharply, reaching 0.5631%.

The dollar, which had weakened against major currencies following the discovery of the Omicron variant, attempted a rebound on this day. The dollar index rose 0.08% to 96.085.

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