The New York Stock Exchange is in New York City.
The new omicron Covid-19 variant could potentially evade vaccines, which has rattled global markets again.
Moderna CEO Stephane Bancel told the Financial Times on Monday that he expects the new vaccine to be less effective than the old one because of the omicron's 30+ mutations. Bancel told CNBC on Monday that it could take months to develop and ship a vaccine that targets the omicron variant.
The Kospi in South Korea and the Hang Seng in Hong Kong fell during Tuesday's trade. The Japan's benchmark stock index shed 1.6%.
European stocks fell at Tuesday's open to all but erase Monday's gains, after the market attempted to begin a rebound following Friday's sharp global sell-off. The index was down by 1.6% by mid-morning.
After President Joe Biden said that economic restrictions and travel restrictions were off the table, vaccine efficacy concerns reversed the rise in sentiment, and the Dow futures were down more than 500 points.
The Japanese yen also rose, but Spot gold prices rose more than 2.5% to more than $1,794 per troy ounce. The dollar was down against the Japanese currency on Tuesday.
The yield on the benchmark 10-year Treasury note dropped at 4:30 a.m. The time is later. The yield on the 30-year Treasury bonds fell. 1 basis point is equal to 0.01%.
The price of bitcoin fell to $56,520. The international benchmark crude slid 3.2% to $71.12 per barrel and the U.S. crude fell 2.8% to $68.97
The moves come after European and U.S. stocks attempted a relief rally on Monday. Dr. Coetzee said the symptoms of omicron had been very mild.
The week's moves have shown how sensitive market participants are to omicron headlines.
This will be the main theme for a while more. We are reluctant to say that market concerns have diminished, and that yesterday's rebound is the beginning of a long- lasting recovery. Pissouros said that any new negative headline has a high chance of leading to another leg of massive selling.
The analysts warned that there could be some volatility in the coming weeks, but urged investors to stay focused on the long-term fundamentals.
