The Greek alphabet isn't gaining any fans, with "omicron" now a dirty word for investors. The Dow Jones Industrial Average (DJINDICES: ^DJI) fell 461.7 points, or 1.3%, to kick off December. The biggest culprit was investors' reaction broadly to the latest strain of the coronavirus. The first U.S. infection caused by the variant was identified in California, and cases in South Africa, where omicron is thought to have originated, doubled overnight.
Today's sell-off was broad across the stock market and within the Dow components. More than half of stocks fell, with aircraft giant Boeing (NYSE: BA) and chemical maker Dow (NYSE: DOW) both losing more than 3%, while retailers Walmart (NYSE: WMT) and Walgreens Boots Alliance (NASDAQ: WBA) both lost 2%. A wide swath of companies that sell consumer goods fell 1% or more, while healthcare giant and coronavirus vaccine maker Johnson & Johnson (NYSE: JNJ) was the Dow's biggest winner, up 1.7% today.
The biggest loser in the Dow Jones today was one of its newest components, Salesforce.com (NYSE: CRM) , down 11% following its third-quarter earnings report, released after the bell on Nov. 30.
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Dow Jones Falls 462 Points on Omicron Fears, Salesforce.com 11% Drop