By Tyler Durden,
And just like that, it was gone...
Nasdaq has roared back from its Omicron-triggered losses after President Biden said - despite some fearmongering over the need for vaccines ("cause for concern but not for panic") for the "omNicron" variant (that he just could not say correctly) - "...US won't need shutdowns, lockdowns this winter."
Biden went on to say that "vaccines are the reason why lockdowns are off the table," but added that he "encourages people to wear masks when indoors with crowds."
Will that be Biden's "Read my lips" moment?
Despite there being no need for a lockdown, he is maintaining his 'racist' travel ban.
Nasdaq has rallied over 2.2% to erase all the variant-anxiety-driven losses...
Small Caps remain the biggest laggard still from the initial Omicron news, followed by The Dow and S&P.
Cryptos have also ripped higher on Biden's comments...
Bonds and the dollar remain notably away from pre-Omicron levels still.
Source : https://www.zerohedge.com/markets/nasdaq-erases-all-omnicron-losses-after-biden-says-no-new-lockdowns