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.