The Dow Jones Industrial Average index dropped over 550 points in premarket trade on Monday as concerns surrounding the Omicron coronavirus variant seemingly affected market sentiment. United States President Joe Biden is set to address the nation on December 21 and outline the details of the government’s Winter Plan to “fight against COVID-19.” Furthermore, Senator Joe Manchin confirmed yesterday that he will not support Biden’s spending package in its current form. The Dow Jones Industrial Average declined by 552 points or 1.57%, the Nasdaq 100 was 1.71% down and the S&P 500 decreased by 1.70% at 4:04 am ET.