The recovery attempt on the US stock exchanges has come to an end

The recovery attempt on the US stock exchanges has come to an end for the time being. Investors continued to be plagued by concerns about the new Omicron coronavirus variant. In addition, statements made by US Federal Reserve Chairman Jerome Powell were annoying, because the Fed is apparently heading for a faster reduction in its securities purchases. Powell suggested that high inflation in the US might not be a passing phenomenon after all. In the end, the Dow Jones Industrial fell by 1.86 percent to 34,483.72 points, adding one more to the mostly cloudy month of November. Overall, the minus for the US benchmark index in the penultimate month of the year is 3.7 percent. The previous annual balance sheet is still clearly positive at 12.7 percent. Another relief is likely to be that the 200-day line, which is currently slightly below 34,350 points and signals the longer-term trend in the Dow, has held up so far. The market-wide S&P 500 fell by 1.90 percent to 4567.00 meters. After an initially stable course, the Nasdaq 100 lost 1.61 percent to 16,135.92 points. It continues to record a monthly profit, which, however, shrank to 1.8 percent. The current annual plus is still around a quarter. However, concerns about the new Omicron variant continued to grow. The background was statements by Moderna boss Stephane Bancel, according to which existing corona vaccines are likely to be less effective against the virus variant and it could also take months before suitable vaccines were mass-produced. Biontech also recently announced that it should take 100 days from development to delivery. Against this background, Moderna lost 4.1 percent and Biontech 3.1 percent. Regeneron lost 2.7 percent. The company has spoken of a lesser effect of its antibody drug on the new Corona variant. The US economic data did not provide a clear picture. While retail data was strong, sentiment among US consumers weakened in November. The previous month's value was also revised downwards. And the mood of purchasing managers from the Chicago area also fell more sharply than expected in November. According to Powell, the US bond market shows a mixed picture. While the yields on ten- and 30-year paper recorded significant losses, the yield on two-year securities rose sharply. Powell's statements that it would consider scaling back bond purchases faster in December given the risk of higher inflation, further flattened the yield curve, it said. The spread between two- and 10-year government bond yields narrowed to a level not seen since January.