Quote:Wall Street is getting nervous about what will happen to the economy next year. The big concern is whether inflation will run too hot, forcing the Federal Reserve to step in with more rate hikes to stop rising prices in their tracks. The Dow fell more than 530 points Friday, about 1.5%, as fears grew that the Fed could potentially cause an economic slowdown by tightening too aggressively. Such concerns are global: Investors everywhere are worrying about inflation and the likelihood central banks will follow the Bank of England's lead and soon raise their own interest rates. But what if investors are scared of the wrong bogeyman? The rise of the Omicron variant of Covid-19 around the globe is raising the possibility that countries...or private businesses...may have to issue new lockdowns.
Interest rates are set to rise next year. Here's what that means Restaurants and pubs in London are closing in response to the Omicron threat. Some Broadway shows in New York City have been canceled. And companies ranging from Apple and Ford to ridesharing firm Lyft and investment bank Jefferies have recently announced plans to delay workers' return to the office. More businesses are likely to follow suit. This might not be priced into the broader stock market just yet. The S&P 500 is up 23% this year and is just a little more than 1% from its record high. Investors aren't exactly running for the hills and hiding. But there are pockets of the market that are getting hit harder than others. The tech stock heavy Nasdaq has fallen 6% from its record high, putting it closer to 10% correction status. But even after its recent drop, the Nasdaq is still up 18% in 2021. Stocks slide on inflation fears but market may be ignoring risk of Omicron shutdowns - CNN
- There are other things we can do against Omicron:
Quote:Mass lateral flow testing cut the number of people needing hospital treatment for Covid by 32% and relieved significant pressure on the NHS when the measures were piloted last year, a study has shown. Liverpool conducted the first city-wide testing scheme using rapid antigen tests in November last year, amid debate about whether or not lateral flow tests (LFTs) were accurate enough to detect the virus in asymptomatic carriers.Mass rapid tests in Liverpool cut hospital stays by a third | Coronavirus | The Guardian