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 | 41794.6 | -257.59 | -0.61% |
SP500 | S&P 500 | 5712.69 | -16.11 | -0.28% |
I:COMP | NASDAQ COMPOSITE INDEX | 18179.984429 | -59.93 | -0.33% |
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 | 74.29 | +2.27 | +3.15% |
BNO | UNITED STATES BRENT OIL FUND - USD ACC | 29.98 | +0.92 | +3.17% |
UGA | UNITED STATES GASOLINE FUND - USD ACC | 62.51 | +1.71 | +2.80% |
Gold continued its march higher to $1,936.60 an ounce level.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GLD | SPDR GOLD SHARES TRUST - USD ACC | 252.83 | +0.36 | +0.14% |
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. | 219.79 | -3.14 | -1.41% |
GS | THE GOLDMAN SACHS GROUP INC. | 511.47 | -7.88 | -1.52% |
BAC | BANK OF AMERICA CORP. | 41.33 | -0.43 | -1.03% |
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. | 22.33 | -0.08 | -0.36% |
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. | 22.52 | -0.68 | -2.93% |
MU | MICRON TECHNOLOGY INC. | 101.73 | +2.00 | +2.01% |
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. | 53.54 | -1.09 | -2.00% |
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. | 147.80 | +1.30 | +0.89% |
DHI | D.R. HORTON INC. | 170.74 | +3.10 | +1.85% |
LEN | LENNAR CORP. | 172.63 | +2.97 | +1.75% |
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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.