Wall Street steadies following omicron slide; stocks rise
By DAMIAN J. TROISE, STAN CHOE and PAUL WISEMAN
AP Business Writers
NEW YORK (AP) — Wall Street is steadying itself Monday from last week’s slide caused by the newest coronavirus variant, as investors wait for more clues about just how much damage it may do to the economy. The S&P 500 was 1.6% higher in afternoon trading to recover a little more than half its drop from Friday. Bond yields and crude oil also recovered chunks of Friday’s knee-jerk reaction to run toward safety and away from risky investments. But while the market was steadying itself, it wasn’t returning to the full-on rally it had been on before the discovery of the variant now known as omicron.
