Dow skids 449 points while oil hits $114, gold gains
GameStop Chair Ryan Cohen now owns 11.9% of the company
U.S. stocks fell Wednesday with investors keeping a close eye on Russia and Ukraine as President Biden heads to a NATO meeting and EU Summit Thursday in Europe.
RUSSIA INVADES UKRAINE: LIVE UPDATES
The Dow Jones Industrial Average fell over 449 points or 1.3%, while the S&P 500 and Nasdaq Composite slid 1.2% and 1.3%, respectively.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 39797.61 | +37.53 | +0.09% |
SP500 | S&P 500 | 5255.81 | +7.32 | +0.14% |
I:COMP | NASDAQ COMPOSITE INDEX | 16387.227019 | -12.29 | -0.07% |
Oil rose over 5% with U.S. crude futures settling at $114.93 per barrel, while Brent, the global benchmark, hit $121.60.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
USO | UNITED STATES OIL FUND L.P. | 77.51 | +0.22 | +0.28% |
BNO | UNITED STS BRENT OIL FD LP UNIT | 31.90 | +0.43 | +1.37% |
UGA | UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS | 71.06 | +1.17 | +1.68% |
Gold continued its march higher to $1,936.60 an ounce level.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GLD | SPDR GOLD SHARES TRUST - EUR ACC | 205.68 | +2.58 | +1.27% |
The yield on the 10-year Treasury eased Wednesday to 2.32%, the second-highest level of 2022, putting the shares of banks and brokers in focus, which should benefit from higher yields.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
JPM | JPMORGAN CHASE & CO. | 199.52 | +3.79 | +1.94% |
GS | THE GOLDMAN SACHS GROUP INC. | 415.25 | +9.07 | +2.23% |
BAC | BANK OF AMERICA CORP. | 37.81 | +0.72 | +1.94% |
GameStop shares jumped 14% after the retailer’s chairman, Ryan Cohen, disclosed that his firm bought 100,000 shares of the company’s stock on Tuesday.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GME | GAMESTOP CORP. | 12.62 | -0.55 | -4.18% |
Semiconductor makers are in focus with Intel CEO Patrick Gelsinger expected to tell Congress at a hearing Wednesday the industry needs more funding to address the chip crisis. Micron's CEO will also be in attendance.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
INTC | INTEL CORP. | 44.09 | +0.33 | +0.74% |
MU | MICRON TECHNOLOGY INC. | 119.25 | +0.45 | +0.38% |
Moderna will seek FDA approval for its COVID-19 vaccine in children 6 through 12 years of age.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
MRNA | MODERNA INC. | 110.59 | +3.18 | +2.96% |
In economic data, sales of new single-family homes unexpectedly dropped 2% to a seasonally adjusted annual rate of 772,000 in February. That’s down from 801,000 in January, when sales fell more than expected as rising mortgage rates and higher prices kept some first-time homebuyers out of the market.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
TOL | TOLL BROTHERS INC. | 127.42 | +1.53 | +1.22% |
DHI | D.R. HORTON INC. | 162.05 | +2.78 | +1.75% |
LEN | LENNAR CORP. | 172.06 | +3.55 | +2.11% |
CLICK HERE TO READ MORE ON FOX BUSINESS
Bitcoin traded around $42,000.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business' Ken Martin and The Associated Press contributed to this report.