The stock market fell on Monday as investors remained cautious amid mixed headlines about the omicron variant and ahead of a crucial Federal Reserve meeting this week, in which the central bank is expected to speed up the taper of its pandemic bond-buying program.
The market was lower ahead of the central bank meeting.
LightRocket via a photo by Rafael Henrique/SOPA Images.
The S&P 500 lost 0.9%, while the Nifty lost 1.4%.
The market rebounded from a sell-off in late November when the Covid omicron variant was first identified as a concern by the WHO, but retreated from record highs hit last week.
The Federal Reserve is expected to address last month's record surge in consumer prices when it concludes its policy meeting on Wednesday.
A majority of central bank officials have recently suggested that the central bank may have to speed up the end of its bond-buying program, which could mean interest rate hikes sooner than expected.
American Airlines and Carnival fell around 5% each on Monday, as the market fell due to the reopening of the economy.
Moderna and Pfizer both rose due to more positive news about existing vaccines and booster shots being effective against the omicron variant.
Oanda senior market analyst Edward Moya says that the stock market was under pressure as investors began to fear a trading life without a Fed safety net. The central bank rate decisions this week will likely show that stocks will have to move higher without the help of central bankers.
The big number is nearly $11 billion.
That is how much Musk's net worth fell on Monday. According to Forbes, Musk is the second richest person in the world with a fortune worth $254.6 billion. Time named the billionaire Person of the Year, which caused a debate.
There's a problem.
The company hit back at its negative portrayal in the Sex and The City reboot last week, and shares of the company rose more than 7% on Monday. Chris Noth's character on the show died after riding a Peloton bike, and his voice was used in a new ad by the at- home fitness company.
The key background is.
The stock market rebounded last week with all three major indexes rising by over 4%. Recent news that vaccines are effective against the new variant has alleviated some concerns, but investors are still cautious with high inflation still being described by Fed officials astransitory. A majority of experts and economists interviewed by Forbes last month predicted that higher prices will stick around for a long time.
Musk was named Time Person of the Year.
Sex and the City is the least of the worries for Peloton.
The S&P 500 is close to a new record.
Is the era of stay-at- home stocks over? Here is why the others have fallen.
