US Shares Rise After Omicron-Driven Selloff

Stocks jumped Thursday, continuing a unrestrained week for markets driven by uncertainty about the potential impact of the Omicron strain on public health and the economic recovery.

Shares rose, with the S&P 500 and Dow Jones more than recouping Wednesday’s losses as of late afternoon. All 11 sectors of the S&P 500 were up, with all but one rising at least 1%.

Oil prices and treasury yields rose while investors are confronting rising inflation are now also evaluating the probability that Omicron could spur changes in government or monetary policy, which has led to volatility in recent sessions.

Markets generally bounced around this week in reaction to news about first known US case of the Omicron variant has been identified in California.