What omicron means for your investments
By Kyle Tetting
News of the omicron variant quickly lowered stock markets in a holiday shortened trading session the day after Thanksgiving. While concerning — both for public health and potential economic impact — the specifics of the new COVID-19 variant aren’t understood enough yet to draw conclusions about what omicron means for stocks.
Nevertheless, the S&P 500 sold off more than 2% Nov. 26, and implied volatility – investors’ expectations for how bumpy the next 30 days will be – spiked 50%. It’s as if investors were just waiting for bad news.