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 | 43870.35 | +461.88 | +1.06% |
SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
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 - USD ACC | 73.20 | +1.18 | +1.64% |
BNO | UNITED STATES BRENT OIL FUND - USD ACC | 29.57 | +0.44 | +1.51% |
UGA | UNITED STATES GASOLINE FUND - USD ACC | 62.76 | +0.37 | +0.59% |
Gold continued its march higher to $1,936.60 an ounce level.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GLD | SPDR GOLD SHARES TRUST - USD ACC | 246.66 | +2.04 | +0.83% |
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. | 244.94 | +4.14 | +1.72% |
GS | THE GOLDMAN SACHS GROUP INC. | 596.24 | +14.41 | +2.48% |
BAC | BANK OF AMERICA CORP. | 46.45 | +0.39 | +0.85% |
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. | 27.83 | -0.60 | -2.11% |
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. | 24.44 | +0.43 | +1.79% |
MU | MICRON TECHNOLOGY INC. | 102.76 | +4.39 | +4.46% |
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. | 38.25 | +1.31 | +3.55% |
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. | 152.36 | +0.45 | +0.30% |
DHI | D.R. HORTON INC. | 161.82 | -1.31 | -0.80% |
LEN | LENNAR CORP. | 168.07 | -0.21 | -0.12% |
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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.