- December 20, 2021
- Posted by: Stratford Team
- Category: Business
Global markets sank on Monday, and Wall Street was headed to extend its losses, as investors took in the latest grim forecasts about the sudden surge in the Omicron variant and a critical setback in President Biden’s efforts to pass a comprehensive domestic policy bill.
The S&P 500 fell more than 1.5 percent in early trading after posting a weekly decline on Friday. In Europe, markets were down 1 to 2 percent, with the Stoxx Europe 600 1.4 percent lower. Asian indexes closed lower.
“The rampant nature of Omicron and its potential impact in sharply slowing global growth is continuing to unnerve investors,” Susannah Streeter, an analyst at Hargreaves Lansdown, wrote in a note to clients. “Uncertainty about the year ahead is rippling through the markets.”
In the White House, the future of President Biden’s $2.2 trillion domestic policy bill was put in doubt after Senator Joe Manchin III, the West Virginia Democrat, said he would vote against it…
