Stocks have their worst day since October as Big Tech sinks

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Technology companies led a broad market sell-off with the Dow down more than 633 points. Shares of GameStop more than doubled as the video game retailer remains caught in a tug-of-war between Wall Street institutions and activist online investors.

In this photo provided by the New York Stock Exchange, trader Samantha Tavares, right, works with colleagues on the floor, Wednesday, Jan. 27, 2021. Stocks were broadly lower in afternoon trading Wednesday, as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.

A measure of fear in the U.S. stock market, the VIX index, surged more than 60%. Treasury yields edged lower, a sign of caution in the market.Facebook, Netflix and Google’s parent company led the pullback, which started early in the day as investors sized up the latest batch of company earnings reports.

The Federal Reserve announced Wednesday that it would keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. In a statement after its latest policy meeting, Fed officials said they are keeping their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economy.

 

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The choice of picture for this article is interesting.

WHERE DID THE RECESSION GO THAT WAS SUPPOSED TO TAKE PLACE LAST YEAR ? C 19 ONLY CAUSED THE MARKETS TO HIT THE MOON !!

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Lolz “activist”. We just say regular people.

Damned ideo games will be the death of us, along with social media.

Yay working class a weapon that might actually do some damage to the elite slave wage masters...like not a lot... but at least we giving em a good scare..

Hooray for Dementia Joe!

this is terrible news

Go activists. Fuck the greedy wankers on Wall Street.

“Activist online investors” Was this headline written by a Redditor?

'Wall Street institutions' that are short selling stock in a company employing 50,000 minimum wage workers during a pandemic. They're not 'Wall Street institutions,' they are scum who deserve to get bankrupted

💎👐

modern era wealth redistribution that involves 0 govt intervention.

Redditors can be a force to be reckoned with sometimes

1 yr has passed the only research paper for a natural origin of COVID-19 is the infamous study published last March in Nature: the Proximal Origin of SARS-CoV-2. At least two authors are getting money from China. One is honored by CCP. The virus was made & leaked from a PLA lab.

You misspelled 'Reddit trolls who are trying to screw hedge funds'.

activist online investors hahahahahahaha

Eat the rich 🚀🚀🚀🚀🚀

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