US stock market was hit by the news that the first known case of the Omicron variant was identified in the U.S yesterday. Volatility index surged +14.45%, while all 3 stock index fell more than 1%. Market is panicking.
To me, the market is overreacting. Will Omicron variant change the fundamentals of a company? If not, it means the valuation for some good companies become more attractive. Mr. Market is providing a good entry point.