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%

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.