U.S. stock futures rose late Sunday, following a steep selloff Friday sparked by fears of the global economic impact of a worrisome new strain of COVID-19.
Dow Jones Industrial Average futures gained about 150 points, or 0.4%, as of 6:10 p.m. Eastern. S&P 500 futures and Nasdaq-100 futures also showed gains of about 0.5%.
On Friday, Wall Street suffered its worst day in more than a year amid growing concerns over the new omicron variant of COVID-19. The World Health Organization's technical advisory group on Friday declared it a "variant of concern," and a number of countries imposed flight bans from countries in southern Africa, where the variant was first discovered.
Little is known about omicron, but investors Friday braced for bad news.
"The pandemic and COVID variants remain one of the biggest risks to markets, and are likely to continue to inject volatility over the next year(s)," Keith Lerner, co-chief investment officer and chief market strategist at Truist Advisory Services, wrote in a Friday note. "It's hard to say at this point how lasting or impactful this latest variant will be for markets."
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