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 44782 -128.65 -0.29%
SP500 S&P 500 6047.15 +14.77 +0.24%
I:COMP NASDAQ COMPOSITE INDEX 19403.947849 +185.78 +0.97%

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 - USD ACC 71.04 -0.59 -0.82%
BNO UNITED STATES BRENT OIL FUND - USD ACC 28.77 -0.23 -0.79%
UGA UNITED STATES GASOLINE FUND - USD ACC 60.18 -0.11 -0.18%

Gold continued its march higher to $1,936.60 an ounce level. 

Ticker Security Last Change Change %
GLD SPDR GOLD SHARES TRUST - USD ACC 245.59 +2.10 +0.86%

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. 246.25 -3.47 -1.39%
GS THE GOLDMAN SACHS GROUP INC. 601.71 -3.86 -0.64%
BAC BANK OF AMERICA CORP. 47.04 -0.47 -0.99%

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. 27.27 -1.78 -6.13%

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. 23.93 -0.12 -0.50%
MU MICRON TECHNOLOGY INC. 98.55 +0.60 +0.61%

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. 43.06 -0.33 -0.76%

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. 164.75 +0.56 +0.34%
DHI D.R. HORTON INC. 169.44 +0.74 +0.44%
LEN LENNAR CORP. 174.14 +0.79 +0.46%

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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.