Another soggy lead from the US spurred cautious local trading, although with the Nasdaq clawing back losses our tech sector experienced selective buy the dip action. Financials had an awful day - closing down over 1% - despite the fact that banks tend to benefit from rising interest rates. As Omicron nerves exacerbated scatty trading and constrained liquidity, the ASX200 closed down 57 points or 0.8%.

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