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Market check: Stocks down after jobs report

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Yahoo Finance's Ines Ferre details how the market is doing amid Omicron variant cases in 38 countries and November's job report.

Video Transcript

[MUSIC PLAYING]

BRIAN SOZZI: Let's get right to Yahoo Finance's Ines Ferré though, who's keeping an eye on some other market moves, Ines?

INES FERRÉ: And, Brian, just taking a look at the overall markets right now, we are seeing, as you mentioned, a turn to the downside, a significant one I will say, with the NASDAQ down 1.3%, the S&P 500 had been up as much as 0.7%, it's now down 0.5%. Taking a look at the sector action, we are seeing that technology is leading to the downside, consumer discretionary also lower as well. We're watching the travel stocks off of that WHO headline that we just heard from you, and we are seeing that these stocks are under pressure. If we take a look at a two-day chart, still in the green because remember they had rebounded quite a bit yesterday. If we look at a five-day chart from last Friday when we first got the news of the variant, you can see some of these still underwater.

We're also watching the Chinese companies that are trading here in the US. A lot of red on the screen that you're seeing, Didi down 15% after announcing plans to delist off the Stock Exchange here in the US and to list in Hong Kong, and we're also watching BABA down more than 9%. The big concern, of course, is that other Chinese companies that are listed here would follow suit in Didi's steps. And take a look at a 10-year chart because BABA went public back in like 2013, '14, take a look at where it's trading now, at $110 a share. It hasn't been trading at that level since around 2017.

And then looking at the software sector as well, this is a bit under pressure. As you mentioned, DocuSign seeing its biggest drop ever down 39% after that guidance for DocuSign came in short of expectations. And finally, just mentioning the semis, I do want to check out Marvell Technology because that stock is at new highs, 16%, its biggest gain since 2008 after its quarterly results, Brian.

BRIAN SOZZI: All right, quite the reversal there, Ines. Only six more hours of the trading day to go. Thanks so much.

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