Live Nation [NYSE: LYV] stock struggles as Omicron variant concerns grow

Live Nation stock was down 2.3% late morning Tuesday as concerns over the global spread of the Omicron variant threatened an already tenuous live music recovery.

The broader markets were down 1.5% overall.

At least 70 countries have imposed new travel restrictions from several African countries following the discovery of the variant. France, Germany and many other European countries along with several US states were already seeing a new wave of infections even prior to the Omicron threat.

Live Nation stock also fell 8.05% on Friday, a day when The Dow Industrial Average fell 2.5%, but had gained back some ground on Monday prior to today’s selloff.

MORE: Live music on edge as Omicron variant spreads

Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.