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It was a rough day on the New York Stock Exchange for public shipping shares. Photo: NYSE

Contagion: first US Omicron case sends shipping stocks reeling

Eneti's Robert Bugbee spends $1.6m more on his shares as stock plummets with rest of maritime group

1 December 2021 23:00 GMT Updated 2 December 2021 7:17 GMT

By Joe Brady

in Stamford

It was another bad day for the broader US stock market. It was a worse one for public shipowners.

While the overall market started brightly with the Dow Jones Industrial Average up more than 500 points, it came crashing down in Wednesday afternoon trading on news that the first confirmed case of the Covid-19 Omicron variant had been discovered in California.