![]() “But there is that underlying strength to the U.S. “There is that fear happening in investors' minds - rightly so,” Jaffee said. TCW Group Senior Portfolio Manager Diane Jaffee told Yahoo Finance Live earlier that despite immediate sell-offs that typically happen upon new variants or rising cases, the markets always resume their climb once investors get comfortable with vaccination rates, news of treatments and how cases are resolved. ![]() Shares of Pfizer closed down 3.39% at $58.95 a piece, while Merck traded at $75.43 per share, down 1.14%. The FDA is expected to authorize at-home treatment pills for the virus from Pfizer ( PFE) and Merck ( MRK). implemented a ban on travel from South Africa along with seven other neighboring countries upon discovery of the strain. President Biden also announced in remarks Tuesday afternoon that he was considering a reversal of travel restrictions related to the Omicron variant of COVID-19. The moves follow news of federal involvement to mitigate Omicron and imminent authorization of an at-home COVID-19 treatment after renewed fears around the variant spooked traders in previous sessions, igniting concerns that rising case numbers could derail economic growth and worsen inflationary pressures. ![]()
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