What You Need to Know
- CVS, Humana, Anthem and Centene all beat the Dow Jones Industrial Average.
- Typical life insurer stocks dropped 3.5% to 5%.
- A life reinsurer did especially poorly.
The COVID-19 pandemic wrecked life and health executives’ hopes for a calm Thanksgiving weekend by producing an aggressive new variant.
A World Health Organization advisory group dubbed variant B.1.1.529 the “omicron” variant. WHO put that variant in its top “variant of concern” category, along with the alpha variant, the beta variant, the gamma variant and the deadly delta variant,
The omicron variant appears to spread more quickly than other variants identified so far, and it seems to be reinfecting people who have already had COVID-19, WHO officials said.
Financial markets traders responded by making big, quick transactions based on the assumption that the variant will lead to new travel restrictions and new social distancing efforts.