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Friday, July 1, 2022

Stocks slide on inflation fears but market may be ignoring risk of Omicron shutdowns

The Dow fell more than 530 points Friday, about 1.5%, as fears grew that the Fed could potentially cause an economic slowdown by tightening too aggressively. Such concerns are global: Investors everywhere are worrying about inflation and the likelihood central banks will follow the Bank of England’s lead and soon raise their own interest rates.
Interest rates are set to rise next year. Here's what that means
Restaurants and pubs in London are closing in response to the Omicron threat. Some Broadway shows in New York City have been canceled.
And companies ranging from Apple and Ford to ridesharing firm Lyft and investment bank Jefferies have recently announced plans to delay workers’ return to the office. More businesses are likely to follow suit.

This might not be priced into the broader stock market just yet.

The S&P 500 is up 23% this year and is just a little more than 1% from its record high. Investors aren’t exactly running for the hills and…

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