JSFiddle - React, Tailwind, and code Playground

HTML

<div class="matchedOn">
    Lorem ipsum dolor sit amet, consectetur adipisicing elit. Impedit magnam inventore tenetur consequuntur sint sunt animi sequi aliquam? Ipsam voluptate nam deserunt voluptatem odio omnis molestias beatae quae nisi cum.
</div>

JavaScript

var matchedString = ['ipsum', 'dolor', 'odio'];
for( var i = 0; i <= matchedString.length; i++ ) {
    var match = $('.matchedOn:contains("' + matchedString[i] + '")');
    match.html(match.html().replace(matchedString[i], "<span style='background-color:#FFFF00'>" + matchedString[i] + "</span>"));
}