The stock market has normally been pretty bullish this year amid the pandemic improving and many people have been “ buying the dip ”. However, thanks to a new round of variants now named Omicron, investors are starting to get worried again. As European countries such as Italy and Germany announced they have been receiving cases of this new variant, Dr. Anthony Fauci, head of the NIH, has stated that “we are in for a 5th Wave of the pandemic”.
This news comes just as shoppers have finished up their holiday weekend and Black Friday shopping taking advantage of millions of deals around the country. The stock market, which saw its lowest point around February 2020, when the pandemic was in full swing, has ebbed and flowed over the past two years. Naturally, investors are worried that another crash is coming that may eclipse the previous crash which saw losses totaling 3,000 points in a single day. Recently, the Dow Jones Industrial Average saw drops of almost 2% over the holiday weekend leading up to the variants confirmation. For now, investors are being told not to make any sudden moves, and look at their assets closely, in case of another round of heavy volatility.
