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 | 38239.66 | +153.86 | +0.40% |
SP500 | S&P 500 | 5099.96 | +51.54 | +1.02% |
I:COMP | NASDAQ COMPOSITE INDEX | 15927.900321 | +316.14 | +2.03% |
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. | 80.36 | -0.08 | -0.10% |
BNO | UNITED STS BRENT OIL FD LP UNIT | 32.73 | +0.04 | +0.12% |
UGA | UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS | 72.56 | +0.02 | +0.03% |
Gold continued its march higher to $1,936.60 an ounce level.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GLD | SPDR GOLD SHARES TRUST - EUR ACC | 216.61 | +0.69 | +0.32% |
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. | 193.50 | +0.22 | +0.11% |
GS | THE GOLDMAN SACHS GROUP INC. | 427.30 | +7.28 | +1.73% |
BAC | BANK OF AMERICA CORP. | 37.83 | -0.08 | -0.21% |
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. | 11.90 | +0.69 | +6.16% |
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. | 31.88 | -3.23 | -9.20% |
MU | MICRON TECHNOLOGY INC. | 114.84 | +3.26 | +2.92% |
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. | 107.97 | +1.79 | +1.69% |
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. | 120.22 | +2.86 | +2.44% |
DHI | D.R. HORTON INC. | 145.30 | +1.10 | +0.76% |
LEN | LENNAR CORP. | 154.18 | +1.43 | +0.93% |
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Bitcoin traded around $42,000.
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FOX Business' Ken Martin and The Associated Press contributed to this report.