Why the Omicron Variant Is Making the Stock Market Plunge and Where to Park Your Money

Why the Omicron Variant Will Plunge the Stock Market — and Where to Park Your Money

  • Australian stock market to fall Monday morning amid panic in Omicron
  • SPI futures point to benchmark ASX200 open, weaker 1.4 percent
  • A third case of the Omicron variant has been discovered in Sydney by traveler



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The Australian stock market is set to fall Monday as investors panic over the Omicron variant.

Australian futures, also known as the SPI, are pointing to the ASX200 opening 1.4 percent weaker when the Australian Securities Exchange opens at 10 a.m.

Three cases of the potentially more contagious variant have been discovered in Sydney among return travelers.

The New York Dow Jones Industrial Average ended 2.5 percent weaker during Friday night’s session.

The Australian stock market is set to fall Monday as investors panic over the Omicron variant.  Australian futures, also known as the SPI, indicate the ASX200 will open 1.4 percent weaker when the Australian Securities Exchange opens at 10 a.m. (pictured is a traveler at Sydney airport)

The Australian stock market is set to fall Monday as investors panic over the Omicron variant. Australian futures, also known as the SPI, indicate the ASX200 will open 1.4 percent weaker when the Australian Securities Exchange opens at 10 a.m. (pictured is a traveler at Sydney airport)

In times of turmoil, safe haven assets such as gold and government bonds are attractive to investors.

But the stock market initially didn’t panic after the first case of Covid came to Australia in late January 2020.

The benchmark S&P/ASX200 peaked on February 14, 2020, nearly three weeks after that first event, before falling 33 percent over the next five weeks.

That peak was not surpassed until May 2021.

The Australian stock market peaked in August when both Sydney and Melbourne were in lockdown and has pulled out despite the easing of restrictions.

In times of turmoil, safe haven assets such as gold and government bonds are attractive to investors (pictured is the Australian Securities Exchange in Sydney)

In times of turmoil, safe haven assets such as gold and government bonds are attractive to investors (pictured is the Australian Securities Exchange in Sydney)

In times of turmoil, safe haven assets such as gold and government bonds are attractive to investors (pictured is the Australian Securities Exchange in Sydney)

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