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5 Top Stock Decliners for Wednesday Amid Omicron-Led Restrictions

Stocks posted gains Wednesday even as omicron cases surged around the world.

Stocks were rising Wednesday as investors continued to assess the impact of the economic fallout from the Covid omicron variant.

Here are some companies that took a hit Wednesday.

1. CarMax KMX | Down 6.7%

Shares of CarMax  (KMX) - Get CarMax, Inc. Report turned negative Wednesday after rising premarket. The used-car retailer reported stronger-than-expected third-quarter earnings. Used-car prices have surged during the Covid pandemic.

2. Alibaba BABA | Down 4.7%

U.S.-listed shares of Alibaba  (BABA) - Get Alibaba Group Holding Ltd. Report struggled Wednesday after Beijing's technology ministry suspended a cybersecurity partnership with the e-commerce giant's cloud-computing unit, according to a report by The Wall Street Journal.

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3. BuzzFeed BZFD | Down 7.1%

Shares of BuzzFeed  (BZFD) - Get BuzzFeed Report fell 5% Wednesday. The digital news publisher, which went public on Dec. 6, has seen its stock drop 40% since it was listed.

4. Rite Aid RAD | Down 7.2%

Shares of Rite Aid  (RAD) - Get Rite Aid Corporation Report struggled. On Tuesday, the drugstore chain reported fiscal-third-quarter earnings that exceeded Wall Street forecasts and it said it would close 63 stores.

The store closures will boost earnings before interest, taxes, depreciation and amortization by $25 million a year, Rite Aid said. It began shuttering locations last month.

5. Moderna MRNA | Down 7%

Shares of Moderna  (MRNA) - Get Moderna, Inc. Report fell Wednesday after drugmaker Pfizer's  (PFE) - Get Pfizer Inc. Report Covid treatment pill was granted emergency-use approval by the Food and Drug Administration.