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US markets tumbled; Moderna skyrocketed 20.5%; American Airlines tanked on Omicron update.

  • The Nasdaq fell 2.23% to close Friday’s session at 15,492 points.
  • Moderna skyrocketed 20.5% as investors hope for a drug to protect against Omicron.
  • American Airlines tanked 8.8% amid the new Omicron COVID-19 variant.

The US markets tumbled on Friday as the news of the Omicron COVID-19 variant spreading caused a widespread selloff especially among growth stocks. Friday’s session was the worst in Black Friday history.

The Dow Jones fell 2.53% to finish the trading day down 905 points to close at 34,899 points .

The tech heavy NASDAQ fell 2.23% to finish the trading day down 354 points to close at 15,492 points

One bitcoin is worth US$57,177 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 71.39 US cents.

US-based biotech company Moderna skyrocketed 20.5% as investors piled into the vaccine-makers’ shares on reports of the new Omicron COVID-19 strain. Investors are backing vaccine-maker shares in hopes Moderna and Pfizer can develop a drug or booster that can offer protection against this new COVID variant.

Shares in American Airlines tanked 8.8% on Friday amid the World Health Organisation deeming the new Omicron variant of COVID-19, ‘a strain of concern’ given how fast it has spread in South Africa. Travel stocks were hit hard as countries in Europe and Southeast Asia began cancelling flights to and from South Africa.

And a new robot out of a British start-up called Cyberselves, brings the idea of sending love around the world to reality through the ability to see through the robot’s camera to control its actions like giving hugs, from another continent.

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