Wall Street closes lower as Omicron and inflation worry investors

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By Devik Jain, Ambar Warrick and Sinéad Carew (Reuters) – Wall Street closed lower on Wednesday after a morning rally faded as investors fretted about the latest coronavirus variant and the first evidence of its U.S. arrival while they also digested Federal Reserve Chair Jerome Powell’s comments on surging inflation. After having advanced as much as 1.9% by late morning, the S&P 500 had given up its gains to turn negative by late afternoon along with the Dow and Nasdaq. Late in the day, the U.S. Centers for Disease Control said the country had detected its first case of the Omicron variant, wh…

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