Major indices fell at the beginning of trading on the Wall Street Stock Exchange, on Monday, affected by fears of the impact of the severe Covid-19 restrictions on the global economy, and expectations of a potentially devastating setback for the investment bill presented by US President Joe Biden.
The Dow Jones Industrial Average fell 143.32 points, or 0.41%, to 35,222.12 points.
The benchmark Standard & Poor’s index fell 32.74 points, or 0.71%, to 4,587.90 points, while… The Nasdaq Composite Index fell 236.68 points, or 1.56%, to 14,933.00 points.
The head of market research and training at Amana Capital, Walid Al-Helou, confirmed in an interview with “Al Arabiya” that the effect of the mutated Omicron from the Corona virus, its evaluation depends on the rate of hospitalization and therefore the imposition of restrictions on movement and travel, and this will be a reducing factor for growth expectations, and thus pressure on performance of financial markets.
He pointed out that Biden’s plan to spend on the legislative side faltered, in addition to reducing estimates of US economic growth.
