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Stocks rebound sharply from omicron sell-off, Dow rises more than 600 points

Stocks rebounded sharply on Thursday, following an omicron-driven sell-off in the previous session, as cyclical names made back some of their recent losses.

The Dow Jones Industrial Average gained 617.75 points to 34,639.79, helped by a 7.5% uptick in Boeing’s stock. The S&P 500 rose 1.4% to 4,577.10. The technology-heavy Nasdaq Composite gained 0.8% to 15,381.32. The small-cap benchmark Russell 2000, full of the most economically sensitive names, added 2.7%.

European stocks close lower in another volatile session amid omicron fears

The pan-European Stoxx 600 fell 1.1%, with tech stocks plunging 3.8% to lead the losses as almost all sectors and major bourses slid well into the red.

European equities have fluctuated between gains and losses this week as traders search for clues to the severity of the new variant, which was first spotted in South Africa last week but has rapidly spread to countries including the U.S., Britain and Germany.

\Reference: CNBC