Feb. 25, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Thursday, February 25, 2021).
All main indexes fell sharply today. The S&P 500 closed down 2.45%, the Dow Jones down 1.75% and the Nasdaq down 3.52%.
Why did the stock market move today?
Treasury yields jumped sensibly today as a consequence of many investors betting on the new stimulus coming soon and on the traditional economy picking up. As a consequence, stocks from all indexes suffered from a sell-off, with stocks from the tech sector suffering the most in this trading day.
Stock of the day
In such a negative day for the stock market, some so-called meme stocks went back to their recent glory. Among these, shares in GameStop (NYSE: GME) closed the day up 18.5%, more than doubling its value in just a couple of days.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!