BYDDF - Midday Market Update: Why Are Stocks Down Today?
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Investors are wondering why stocks are down today and we’re providing the answers in our midday market update for Thursday!
Of course, it wouldn’t be 2021 without the effects of Covid-19 having something to do with why stocks are down today. This time around it has to do with restrictions being put in place due to the Omicron variant.
These restrictions are happening over in the U.K. This has Prime Minister Boris Johnson advising citizens to work from home and also requiring vaccine passports for large venues. The new restrictions aren’t sitting well with investors, who weren’t expecting them as early reports suggest Omicron only causes mild symptoms.
Prime Minister Johnson says that the U.K won’t be introducing vaccine mandates. Even so, he said a national conversation may have to take place if to avoid further restrictions if people refuse vaccinations, reports Bloomberg.
Another factoring affecting stocks today is the falling price of oil. After running higher for the last few days, it looks like that rally is at an end. As a result, the price dropped to around $75 per barrel.
So what’s dropping oil prices today? You guessed it: Omicron. Fears of restricted travel and more people staying at home are hampering oil prices on Thursday. If more restrictions are in place that means less travel. You also have to account for those that would normally travel staying at home to avoid the newest coronavirus variant.
There’s no telling just how long the coronavirus pandemic will last but Twitter (NYSE:TWTR) users are running out of patience. A recent interview with the CEO of Pfizer (NYSE:PFE) caught the ire of users after he suggested a fourth booster shot might be needed sooner than expected to handle Omicron.
Investors seeking more stock market news from Thursday will want to stick around!
We’ve got the most recent stock market news for traders to dive into today! Among that is what’s happening with shares of Tecnoglass (NASDAQ:TGLS), BYD (OTCMKTS:BYDDF), and Phunware (NASDAQ:PHUN) on Thursday. You can find out at the following links!
More Thursday Stock Market News
- TGLS Stock Alert: What to Know About the Short Report Tanking Tecnoglass Today
- BYDDF Stock: 10 Things to Know About BYD as Investors Hunt for the Next Hot EV Play
- PHUN Stock Cools Off Despite News the ‘Trump Trade’ Favorite Just Bought Bitcoin
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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