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U.S. stocks drop over growing Omicron fears and Powell taper remarks
Updated: 2021-12-01 09:32:08 KST
U.S. stocks tumbled on Tuesday as investors continued to track risks associated with the new COVID-19 variant, Omicron.
Federal Reserve Chair Jerome Powell's remarks suggesting an earlier end to bond tapering also contributed to the drop.
All three major indexes closed sharply lower,reversing Monday's rebound.
The Dow Jones Industrial Average fell more than 650 points or 1.9 percent compared to the previous session's close.
The S&P 500 also shed 1.9 percent and the tech-heavy Nasdaq dipped about 1.6 percent.
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