(CNBC) — The major averages fell sharply, giving up solid gains, on Wednesday after the Centers for Disease Control and Prevention confirmed the first case of omicron in the U.S.
The Dow Jones Industrial Average fell 461.68 points to 34,022.04, after being up more than 520 points at the high of the day. The S&P 500 lost nearly 1.2% to end at 4,513.04. The broad-market index closed below its 50-day moving average for the first time since Oct. 13. The Nasdaq Composite dropped 1.8% to 15,254.05 after rising as much as 1.8% earlier in the session
Wednesday’s moves continue a volatile streak of the last four sessions as the omicron threat emerged.
