Stock and oil prices are falling for fear of the omicron

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Oil prices Concerned about how omicron may affect energy demand, which has already suffered significantly since the outbreak of the Covid-19 pandemic last year.

Investor sentiment on Wall Street was dampened by the announcement by US Democrat Senator Joe Mancin that he would not support President Joe Biden’s social spending bill.

The British pound fell sharply after the unexpected resignation of British Brexit Minister David Frost over the weekend.

“After an endless battle against the winds in recent weeks, markets have finally overturned, with the rapid spread of the omicron finally reaching panic,” said Rass Molds, AJ Bell’s chief investment officer.

The form of omicron, first reported in South Africa in November, has now been found in dozens of countries, prompting many countries to renew travel restrictions and other measures.

The rapid spread of omicron has also hit the oil market and travel-related companies hard.

“Market participants think Omycron Grinc may eventually steal Christmas,” said Patrick O’Heer, an analyst at Briefing.com.

Investor sentiment has become significantly gloomier as central banks begin to address inflation by cutting financial support to the economy.

The Dow Jones Industrial Average fell 1.2% to 34,932.16 points on Monday, the Standard & Poor’s 500 fell 1.1% to 4,568.02 points and the indexNasdaq Composite ‘decreased by 1.2% to 14,980.94 points.

London Stock Exchange Index FTSE 100 fell 1.0% to 7198.03 points on Monday, Frankfurt Stock Exchange Index DAX 30 fell 1.9% to 15,239.67 points, while the Paris Stock Exchange index CAC 40 fell 0.8% to 6,870.10 points.

In the New York Stock Exchange, WTI crude fell 3.1 percent to $ 68.66 a barrel on Monday. The price of Brent crude oil fell 2.0% to $ 72.06 a barrel on the London Stock Exchange.

The euro appreciated against the US dollar from 1.1240 to 1.1281 dollars on the euro on Monday, the British pound depreciated against the dollar from 1.3245 to 1.3204 dollars per pound, while the US dollar depreciated against the Japanese yen from 113.63 to 113.61 yen per dollar. The euro appreciated against the pound sterling from 84.86 to 85.40 pence per euro.

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