Shares on Wall Street fell on Tue on renewed worries about the spread of the
omicron variant. The Dow ended near its lows, after Fed Chair Jerome Powell
the threat of persistently higher inflation has grown.
The Dow Jones Industrial Average lost 652.22 pts, or 1.86%, to close at
34,483.72. The S&P 500 index fell 1.9%. The technology-heavy Nasdaq
Composite dipped about 1.6% to 15,537.69. Apple (AAPL US, +3.1%) was the
only large-cap tech stock to rise on Mon.
Executives from Moderna (MRNA US, -4.36%) said that the omicron variant’s
many mutations suggest new vaccines will be needed.
After falling during regular trading, Salesforce (CRM US, -3.97%) is down an
additional 6.2% in extended-hours trade after giving revenue and profit forecasts
for the current period that fell short of analysts’ estimates.
The Treasury yield curve flattened on Powell’s comments. The yield on the 10-
year Treasury note slipped 5.44 basis points (bps) to 1.4443%. Meanwhile, the
2-year Treasury yield rose 1.6 bps to 0.524%.