Wall Street's major averages fell more than 1% on Wednesday after a morning rally faded as investor angst about the latest coronavirus variant soared with the first US case confirmation while the market also digested Fed comments on inflation.
After having advanced as much as 1.9% by late morning, the S&P 500 gave up all its gains in the afternoon along with the Dow and Nasdaq, which fell the most on the day. All three indexes breached key technical levels during the session.
Late in the day, the U.S. Centers for Disease Control said the country had detected its first case of
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