London Daily

Focus on the big picture.
Thursday, Sep 04, 2025

Biden Says Not Concerned About US Stock Market Plunge as He 'Expected It'

Biden Says Not Concerned About US Stock Market Plunge as He 'Expected It'

US President Joe Biden said on Friday that he is not concerned about the plunge in the US stock market and he had expected it over concerns related to the new Omicron coronavirus variant.

"I expected it," Biden told reporters when asked if he is worried about the stock market plunge.

Earlier on Friday, the US stock market fell 900 points over concerns about the new variant of the novel coronavirus detected in southern Africa.

The US Dow Jones Industrial Average closed 905 points lower, losing 2.5%, as all sectors slid sharply into negative. The S&P 500 slipped 2.27%, while the Nasdaq Composite lost 2.23%, according to CNBC.


Global oil prices also plummeted, with the benchmark blend of oil, Brent, losing 11.26% to slip from $82.26 to around $72.84 per barrel and the American benchmark blend, WTI, losing 12.57% to reach $68.16 per barrel as of 16:52 GMT.


The new variant, B.1.1.529, is reported to carry an exceptionally high number of mutations, many of them in spike proteins, the main target of COVID-19 vaccines, potentially making it even more transmissible than the "delta" strain, which previously became globally dominant.

“We don’t know a lot about the variant, except that it is of great concern, it seems to spread rapidly,” Biden told reporters on Friday.

"[F]or those Americans who are fully vaccinated against severe COVID illness – fortunately, for the vast majority of our adults -- the best way to strengthen your protection is to get a booster shot, as soon as you are eligible," Biden said in a press release. "For those not yet fully vaccinated: get vaccinated today."

On Friday, the US announced new travel restrictions for foreign travelers from eight countries in southern Africa due to the emergence of the new coronavirus variant. Simultaneously, other countries announced the suspension of travel from southern Africa, including the UK, Turkey and EU members.

The World Health Organization (WHO) identified the new variant as one of concern and dubbed it Omicron, the 15th letter of the Greek alphabet.

Comments

ME 4 year ago
This charlatan will say anything.

Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
×