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Omicron variant sparks worst daily declines in over a year
Stock market volumes were already thin when news emerged of the Omicron variant, on account of the Thanksgiving holiday in America, exacerbating the sell-off and causing the worst daily decline in more than a year. The European blue-chip Euro Stoxx 50 index fell back to earth with a thud, falling 4% in a day, though the real wonder was how it had kept rising at all given recent European Covid statistics. Having enjoyed a 10% run-up in recent weeks, this index is now back at the levels seen in June. It was a similar story with most stock market indices globally, which gave up several months of gains in a day. The Nikkei continued on its remarkable roller coaster ride, dropping 6% to levels last seen in January. Over the past few months, it has enjoyed a 14% rally, followed by a 9% fall, followed by an 8% rally and now this latest decline, as hopes for the new government’s stimulus programme have fought it out with disappointing economic data. The technology-heavy Nasdaq Composite index again bucked the trend, and had made back most of its losses by the end of the week, as investors anticipated another pandemic bonanza for online businesses.
Stocks featured:
Bank of America Corp., DiDi Global Inc., Alphabet Inc., Moderna Inc., Pfizer Inc. and Uber Technologies Inc.
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.
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By Walker Crips Investment Management Limited
5
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Stock market volumes were already thin when news emerged of the Omicron variant, on account of the Thanksgiving holiday in America, exacerbating the sell-off and causing the worst daily decline in more than a year. The European blue-chip Euro Stoxx 50 index fell back to earth with a thud, falling 4% in a day, though the real wonder was how it had kept rising at all given recent European Covid statistics. Having enjoyed a 10% run-up in recent weeks, this index is now back at the levels seen in June. It was a similar story with most stock market indices globally, which gave up several months of gains in a day. The Nikkei continued on its remarkable roller coaster ride, dropping 6% to levels last seen in January. Over the past few months, it has enjoyed a 14% rally, followed by a 9% fall, followed by an 8% rally and now this latest decline, as hopes for the new government’s stimulus programme have fought it out with disappointing economic data. The technology-heavy Nasdaq Composite index again bucked the trend, and had made back most of its losses by the end of the week, as investors anticipated another pandemic bonanza for online businesses.
Stocks featured:
Bank of America Corp., DiDi Global Inc., Alphabet Inc., Moderna Inc., Pfizer Inc. and Uber Technologies Inc.
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.