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Stock market rebounds on hopes Omicron may not be as bad as feared

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The S&P 500 rose 1% on Monday, making up some ground after suffering its worst trading day in nine months on Friday.
Stocks rebounded in early trading on Monday as investors weighed the, dubbed, that has been found in more countries and is prompting some governments to. The Dow ticked up more than 100 points, or 0.3%, to 35,011 as of 10:15 a.m. Monday. The S&P 500 ticked up 1% and the tech-heavy Nasdaq was up 1.4%. European stocks also rose. Benchmarks in London, Frankfurt and Paris had gained by midday. Stock indexes in Shanghai, Tokyo and Hong Kong ended lower, though losses were smaller than, sparked by reports that the new COVID-19 variant, first spotted in South Africa, appeared to be spreading As health authorities scrambled to analyze the new variant, traders were clinging to hope that it would be less severe than other strains of the virus. “The potential for a less deadly form of the virus does appear to provide some respite to the risk-off sentiment dominating Friday’s trade,” said Joshua Mahony, senior market analyst at IG. “However, the weeks ahead are fraught with danger for investors.” Monday’s rebound comes after stocks on Friday marked their as investors were spooked by the new variant, which some scientists are concerned could prove to be more contagious or deadly than earlier varieties. On Friday, the S&P 500 fell 2.

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