The Omicron variant poses a new challenge for a global economy already struggling to facilitate enough growth to outpace inflation.
- Gold dropped 6% after Powell’s renomination as Fed head. The price has still maintained an upward stair stepping pattern since the summer.
- Powell expressed a hawkish tilt that has investors worrying about interest rate hikes earlier 2022.
- Stocks with extremely high valuations, mostly centered around innovation and technology, are getting hit hard.