Joe Manchin social president Waves No Way Home Joe Manchin

Media Stocks Swoon In Omicron-Induced Market Selloff

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deadline.com

Stocks were flattened Monday by a wave of angst over the fast-spreading Omicron variant, exacerbated by pending interest rate hikes and economic tightening the Fed signaled last week, and after Sen.

Joe Manchin scuttled President Biden’s key social policy legislation.All major indexes fell on the first day of a shortened trading week ahead of the holidays.

With Christmas falling on a Saturday, financial markets will be closed Friday.Not even record-setting ticket sales for Spider-Man: No Way Home could keep exhibitors in the green with AMC Entertainment and Imax down, respectively, by 6.6% and 3.4%.The Nasdaq has lost 1.8% and the S&P 500 and Dow 1.7% and 1.8% each — meaning a nearly 650-points drop for the DJIA.

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