Daily Money - What Does Omicron Mean for Stocks?

November 30, 2021

Stock investors don’t like to get caught off guard. The market can tolerate bad news as long as investors see it coming, and they bake it into the price they’re willing to pay for a company’s shares. But they don’t like scary news out of the blue (I mean, who does)? So it’s no surprise that stocks had their worst day of the year last Friday on the news of the emerging Omicron variant of COVID-19. Stocks recovered some ground on Monday, but opened lower today as uncertainty remains. New travel bans and other disruptions could potentially wreak havoc on the economy. Or, if Omicron has a muted effect, that could actually work in stocks’ favor, a prominent investor tweeted. Either way, it’s best to sit tight and not make rash decisions with your portfolio. Read more about why in today’s edition.

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Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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