First US Omicron Infection Pulls US Shares Down

US shares have surrendered much of their pre-market gains. The S&P 500 index fell under 4600 and is now just 0.4% higher on the day having been as much as 1.9% higher earlier in the session.

The Nasdaq 100, meanwhile, has pared back on gains that had been as much as 1.8% at the start of the session to just 0.2%. The Dow is up by the same amount.

Market sentiment deteriorated with rising news on the global Omicron outbreak. The number of Covid-19 infections reported in South Africa doubled on Wednesday versus Tuesday. WHO scientists earlier in the day were out saying they believed that the existing vaccines would still provide substantial protection.


More recently, the first Omicron variant infection was reported in the US. The individual, who is fully vaccinated, is only experiencing mild symptoms at the moment and had traveled to South Africa.