Tech Stocks, Omicron Concerns Pull Stock Markets Down
Modest early gains on Wall Street gave way to a technology-stock rout, after the U.S. jobs report renewed expectations that the Federal Reserve will end stimulus early next year.
The S&P 500 lost around 1.2%, dragged down by shares of tech companies. The index rallied Thursday despite uncertainty about the Omicron variant’s potential impact on the global economy. The tech-focused Nasdaq Composite lost 2.4%. The Dow Jones Industrial Average fell 0.45%.
