U.S. Stocks Halt Rally as Cost of Omicron Weighed: Markets Wrap
- Nasdaq 100 slides more than 1% after three days of gains
- Dollar rises as jobless claims come in at five-decade low
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U.S. stocks fell and bonds gained as the economic threat of restrictions to control the new omicron variant outweighed optimism about the efficacy of vaccines.
Both the S&P 500 and Nasdaq 100 retreated, ending a three-day rally, as losses in consumer discretionary and real estate stocks led the market lower. Treasuries pared back a rally after a lackluster sale of 30-year bonds. Meanwhile, the Cboe Volatility Index inched higher toward 22.