First Omicron Infection Case Reported in US... Stock Market Gains Narrow

[Asia Economy New York=Correspondent Baek Jong-min] The first Omicron COVID-19 variant infection case has been reported in the United States. As risk-averse sentiment spreads, the New York Stock Exchange has given up most of its gains, and the previously weak U.S. Treasury prices are showing strength again.

[Image source=Reuters Yonhap News]

The U.S. Centers for Disease Control and Prevention (CDC) announced on the 1st (local time) that an Omicron variant infection case was confirmed in California.

The infected individual was fully vaccinated and returned home through San Francisco Airport from South Africa on the 22nd of last month, testing positive on the 29th.

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID), explained at the White House COVID-19 briefing that "the Omicron-infected person is currently in self-quarantine. All close contacts of the infected individual have been identified, and all tested negative."

Dr. Fauci added, "The patient's symptoms are mild and improving."

California Governor Gavin Newsom also urged residents not to panic but said, "We must not lower our guard. People should get vaccinated and wear masks indoors."

Following the news of the Omicron infection case in the U.S., major indices on the New York Stock Exchange gave up most of their earlier gains.

The Dow Jones Industrial Average showed a rise of over 1% in the morning but was up only 0.3% as of 2:30 p.m. The Nasdaq Composite Index was up 0.15%.

U.S. Treasury yields rose in the morning, approaching 1.5%, but fell back to 1.446%, the same level as the previous day.

The dollar value, on the other hand, increased. The dollar index, which showed weakness in the morning, rose 0.02% to 96.035.