U.S. stocks fell sharply on Wednesday amid disappointing earnings, while concern about heightened speculative trading activity deepened.
 | WED, JAN 27, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 142.06 | -1.10 | -0.77% | | MSFT | 232.90 | +0.57 | +0.25% | | INTC | 53.59 | -1.62 | -2.93% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAL | 16.56 | +1.03 | +6.63% | | GE | 11.38 | +0.09 | +0.80% | | AAPL | 142.06 | -1.10 | -0.77% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | SIRI | 6.87 | +0.32 | +4.89% | | AAPL | 142.06 | -1.10 | -0.77% | | AMD | 88.84 | -5.87 | -6.20% | |
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Stocks were slammed on Wednesday, as the S&P 500 dropped by 2.5% and the Nasdaq Composite fell by 2.7%. The Dow Jones Industrial Average shed more than 600 points. It was the worst sell-off in three months. The drop in the S&P 500 was bad enough to wipe out the index's gains for the year. Boeing helped drag the Dow, falling by 4%. Investors sold big technology shares, not waiting for their earnings due after the bell. However, the attention of Wall Street was once again focused on the busy trading activity in GameStop, which spread to other stocks like AMC Entertainment on Wednesday, as small investors ran over short sellers on Wall Street.  Read our explanation of what exactly is going on with this GameStop mania here. Read why this is garnering regulators' attention and worrying investors here. Check the live quote of GameStop shares in extending trading here.
The decline in stocks came even as the Federal Reserve signaled its willingness to continue bolstering the economy. The central bank decided to keep interest rates close to zero. It also said it would continue its asset purchasing program, wherein the Feds buys at least $120 billion in bonds each month. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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