Wall Street finished mostly lower on Friday, weighed down by Big Tech as investors digested the Federal Reserve's decision to end its pandemic-era stimulus faster.
said on Friday the pandemic could extend through next year. European countries geared up for further travel and social restrictions and a study warned that the rapidly spreading Omicron coronavirus variant was five times more likely to reinfect people than its predecessor, Delta.Traders work on the floor of the New York Stock Exchange in New York City, U.S., November 29, 2021.
Traders also pointed to year-end tax selling and the simultaneous expiration of stock options, stock index futures and index options contracts - known as triple witching - as potential causes for volatility. "It's a big options expiration day," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "And now you draw on top of that some Omicron, and you've got volatility, and I think it creates a lot of uncertainty amongst investors. Where are you going to position for the end of the year?" Heavyweight growth stocks including Nvidia
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