The Dow Jones Industrial Average fell 461.68 points, or 1.34 percent, to 34,022.04. The S&P 500 decreased 53.96 points, or 1.18 percent, to 4,513.04. The Nasdaq Composite Index dropped 283.64 points, or 1.83 percent, to 15,254.05.
Ten of the 11 primary S&P 500 sectors ended in red, with communications services and consumer discretionary down 1.98 percent and 1.86 percent, respectively, leading the laggards. Utilities rose 0.16 percent, the lone climbing group.
U.S.-listed Chinese companies traded mostly lower with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The above moves came after U.S. health authorities said Wednesday that the United States has identified the country's first confirmed case of the Omicron COVID-19 variant in the state of California.
Omicron, a new COVID-19 variant, has been detected in a growing number of countries and regions worldwide, prompting governments to tighten their restrictions and impose new travel bans.
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