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Stock futures, oil prices fall on omicron restrictions
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U.S. stock futures, oil prices, and bond yields fell as investors worried that a rise in Omicron Covid-19 cases would stall economic growth and add pressure to inflation.
Futures for the S&P 500 tumbled 1.4% Monday. The index fell Friday, notching its largest weekly percentage decline in three weeks. Contracts for the tech-focused Nasdaq-100 shed 1.4% Monday, and futures for the Dow Jones Industrial Average declined 1.4%.
Some countries are imposing restrictions to stem the spread of the Omicron variant as the holiday season starts. The Netherlands on Sunday reimposed a lockdown, with all nonessential shops, bars and restaurants closed until mid-January. Irish Prime Minister Micheál Martin also announced new restrictions. President Biden plans to deliver an update Tuesday on the fight against Covid-19 in the U.S., where cases are rising.
NETHERLANDS ‘GOING INTO LOCKDOWN AGAIN’ TO CURB OMICRON
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