January 21, 2022

Stocks closed down today with investors rotating further away from growth and technology stocks that had outperformed early on during the pandemic.

Dow Jones finished -450 at 34,265

S&P 500 finished -85 at 4,397

NASDAQ finished -385 at 13,768

The 10 Year Treasury closed down 7 basis points yielding 1.76%

Oil prices closed down $0.84 ending at $84.71 a barrel.

Gold prices closed down $12.50 ending at $1,830 an ounce.

In the days’ stock news:

Netflix closed down 22%. The steep sell-off came after Netflix admitted that streaming competition was eating into its own growth in its fourth-quarter earnings release
Intel closed even after the company announced plans to invest at least $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants come as chipmakers work to accelerate supply to meet demand.