This Black Friday, investors should heed the lessons from a Danish parable about a chick called Henny Penny. In the story, an acorn fell on Henny Penny’s head. The chick was hysterical because of the acorn. It said that the sky was falling. The dim-witted Henny Penny could be the inspiration for the Omicron selloff.
Black Friday struck twice this year. It is normally used to describe the start of the Christmas shopping season. Black Friday is the day after Thanksgiving, when shops offer steep discounts. In Singapore, people queue for hours outside shopping malls to get bargains.
This year, there was a second Black Friday on Nov 26. The fear of Omicron wiped out US$1.25 trillion ($1.7 trillion) from the US stock market value. The Dow fell 2.5 %. The Singapore Exchange (SGX) swooned.
