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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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WATCH: Still overweight value stocks, but have reduced our positions, says Thomas Poullaouec, head of APAC multi-asset solutions at T. Rowe Price.Source: Bloomberg
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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.