An early stock market rally on Wall Street went thud on Wednesday following confirmation of the first case of COVID-19 linked to the newly discovered variant Omicron in the U.S. The Dow had been up more than 500 points, or almost 2%, by late morning Wednesday, but reversed course on the latest pandemic news and dropped 900 points to end the day down 1.34%, at 34,022. Six more U.S. states confirmed infections of the Omicron variant of COVID-19 on Friday but the Delta strain likely remains a greater threat as winter sets in and Americans gather for the holidays, experts said. New Jersey, Maryland, Missouri, Nebraska, Pennsylvania and Utah each reported their first cases of the Omicron variant on Friday. Missouri was awaiting CDC confirmation of a case involving a St. Louis resident who had recently traveled within the United States. The Food and Drug Administration on Friday authorized Eli Lilly’s monoclonal antibody treatment for infants and children under age 12 with Covid-19 who are at high risk of becoming severely ill from the virus because they have a condition such as obesity or diabetes. The Food and Drug Administration is poised to authorize the first Covid-19 antiviral pill for at-home use as soon as next week by Merck. But ensuring the drug reaches the patients who’d most benefit from it will be a thorny task for regulators and health care providers.
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