The small-capitalization Russell 2000 index staged a powerful turnabout that was threatening to push the index into correction territory for the first time since June of 2020, Dow Jones Market Data. The Russell 2000 index /zigman2/quotes/210598147/delayed RUT -3.06% was currently down 0.7% at 2,190, with a close below 2.198.47, representing a decline into correction for the benchmark. Market technicians deem a decline of an asset from a recent peak of at least 10% (but no more than 20%) as being in correction. The skid lower for the benchmark, it was up 2.5% earlier Wednesday, also would represent its largest turnaround since March 20, 2020. The move lower also comes as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.51% , the S&P 500 index /zigman2/quotes/210598065/realtime DJIA -1.51% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.60% lose steam as the omicron variant of the coronavirus that causes COVID-19 has been identified in the U.S. Reports indicate that the first case of the variant was discovered in San Francisco.