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 United States arrival while they also digested Federal Reserve Chair Jerome Powell’s comments on surging inflation.According to preliminary data, the S&P 500 – a proxy for the health of retirement and college savings accounts – lost 1.18 percent, to end at 4,513.04 points, while the Nasdaq Composite lost 1.83 percent to 15,254.05. The Dow Jones Industrial Average fell 1.34 percent to 34,022.04.Late in the day, the US Centers for Disease Control said the country had detected its first case of the Omicron variant, which had infected a person who came from South Africa, where the variant was initially discovered.
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