US stocks plummeted Tuesday as renewed concerns about the Omicron variant of Covid-19 weighed on sentiment. Comments from Federal Reserve chairman Jerome Powell didn't help. Powell told Congress that the Fed no longer thought inflation was "transitory" and he hinted that the Fed could accelerate its plans to cut back on, or taper, bond purchases.
- The Dow plunged more than 650 points, or 1.9%
- The S&P 500 also fell 1.9%
- The Nasdaq Composite ended the day down 1.6%.
As stocks settle after the trading day, levels might still change slightly.