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Stocks open lower as investors assess omicron concerns

Tiger Newspress2021-11-30

Stocks tumbled on Tuesday, reversing Monday's rebound on Wall Street, as investors reassessed risks associated with the new omicron Covid variant.

The Dow Jones Industrial Average dropped about 290 points, or 0.8%. The S&P 500 shed 0.64%. The technology-heavy Nasdaq Composite shed about 0.4%. The small-cap benchmark Russell 2000 dropped 0.7%.

Tuesday's reversal came after Moderna CEO Stephane Bancel told the Financial Times that he expects existing vaccines to be less effective against the new variant. The CEO told the paper there could be a "material drop" in the current vaccines' effectiveness against this variant. Bancel told CNBC on Monday that it could take months to develop and ship an omicron-specific vaccine. Moderna was down nearly 4%.

Separately,Regeneron said its antibody treatment may have reduced effectiveness against omicron. Regeneron shares lost about 1%.

Travel shares, which led Friday's drop and then gained on Monday, were taking hits once again Tuesday.Expedia Group fell 2%,Norwegian Cruise Line Holdings and American Airlines  shares tumbled about 2%.

Bucking the broader market's trend, stay-at-home stock Netflix rose 1.4% and Tesla gained 1.5%.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论30

  • LimLS
    ·2021-12-01
    Market conveniently ignore the news on Pfizer CEO comment on its vaccine on omicron and some other researchers on the relative mildness of this variant. As usual, market manipulation at work. When they want the market to go down, just focus on negative news. When they want it to go up, they will start to talk about the positive news.
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  • PearlynCSY
    ·2021-12-01
    Yesterday, Moderna CEO says vaccines likely no match for Omicron variant. And that it could take months to develop and ship an omicron specific vaccine, but a higher dose of its booster could be ready much sooner.
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    • PearlynCSY
      Tks for sharing
      2021-12-08
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    • LimLS
      Pfizer CEO said they will need 100 days to come out with effective vaccine against omicron. Also commented their vaccine is still somewhat effective against this variant. Let's wait and see
      2021-12-01
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  • koolgal
    ·2021-12-01
    Tighten your seat belts as it is going to get real choppy in the markets!  But it is also bargain hunting time too!  It is time to be contrarian and be bold to reap the bountiful harvest in future. 🎉🎊🎉
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    • koolgal
      Yes I agree
      2021-12-02
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    • tklew
      真的有些震荡,晕车。 [笑哭] [笑哭]
      2021-12-02
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    • koolgal
      Thanks
      2021-12-01
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    查看更多 2 条评论
  • StarGalaxy
    ·2021-12-01
    Ok 
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  • CWH98
    ·2021-12-01
    Like pls tq
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  • YKPL
    ·2021-12-01
    Believe Amanda, after May 2022,the recovery will sustain. 
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  • 27f57db6
    ·2021-12-01
    Shitty virus
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    • ToongMH
      yes
      2021-12-01
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  • Boonseong
    ·2021-11-30
    [财迷] 
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    • Boonseong
      [财迷]
      2021-11-30
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  • lewisleeks
    ·2021-11-30
    [Smile] [Smile] 
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  • xuannie
    ·2021-11-30
    Never ending virus... please bring us to the end of tunneel
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    • Blueman13
      yearly affair
      2021-12-01
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    • Dcagency
      Till the end of the world [Facepalm]
      2021-11-30
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  • EthanOng
    ·2021-11-30
    Get ARCT. Soon to be the vaccine that rulesthem all. 😬
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  • MoneyCentral
    ·2021-11-30
    Virus menace
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  • katzkie
    ·2021-11-30
    Okay.
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  • SYFU
    ·2021-11-30
    Ohhh
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  • Cecilia1
    ·2021-11-30
    Harvest time! Stocks already rebounding.
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  • OnlyPro
    ·2021-11-30
    [害羞] 
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    收起
    • Sayaka
      [微笑]
      2021-11-30
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    • OnlyPro
      b
      2021-11-30
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  • IcyAlchemist
    ·2021-11-30
    Like and comment
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  • Untame
    ·2021-11-30
    Downtrend
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  • JingSheng
    ·2021-11-30
    B
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  • JoHo
    ·2021-11-30
    Please like and comment
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    • Yoongs
      👍🏻
      2021-11-30
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    • IcyAlchemist
      Liked
      2021-11-30
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