Investor Alert

Dec. 1, 2021, 4:04 p.m. EST

Dow makes 983-point U-turn, ending sharply lower after first reported U.S. omicron case

Stocks erased early gains, ending sharply lower Wednesday after the first confirmed U.S. case of COVID-19 caused by the omicron variant was found in California. The Dow Jones Industrial Average (DOW:DJIA) fell around 462 points, or 1.3%, to close near 34,022, according to preliminary figures --- a pullback of more than 980 points from the blue-chip gauge's intraday high at 35,004.64. The S&P 500 (S&P:SPX) ended around 54 points lower, down 1.2%, near 4,513; the Nasdaq Composite (NASDAQ:COMP) finished near 15,254, down around 284 points, or 1.8%. Dr. Anthony Fauci, President Joe Biden's top medical advisor, told reporters Wednesday afternoon that the California and San Francisco departments of public health and the Centers for Disease Control "confirmed that a recent case of COVID-19 among an individual in California was caused by the omicron variant."

Link to MarketWatch's Slice.