New COVID-19 variant throws stock market off, but financial experts say don’t worry

Coronavirus

The stock market tumbled over the weekend from the new COVID-19 variant Omicron, but it’s not all bad news.

The market dropped about 2 1/2%. Retailers and tech stocks took big hits, while Netflix and Peloton actually went up.

Meanwhile, things are already bouncing back. Financial experts say a little less than half of it has rebounded today when just days ago people had concerns the new variant would clog up the supply chain and hurt the economy. But it turns out: that’s not the case so far.

Financial experts warn there’ll be some volatility, but there’s no need to panic.

“One day isn’t going to make or break this. As long as you’re looking at your risk tolerance, you’re allocated properly, and you’re comfortable where you are don’t make any rash decisions, and time will be your friend, as long as you’re patient with the market.”

Jason Haswell, Financial Expert

Financial experts believe the stock market will eventually recover, but that may take time.

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