Morning Report 28 Jan 21: US stocks suffer worst one day sell off since October

US sharemarkets tumbled on Wednesday. At the close of trade, the Dow Jones index fell by 634 points or 2.1% after being down 730 points earlier in the session. The S&P 500 index lost 2.6% and the Nasdaq index was down by 355 points or 2.6%. Another shorts being squeeze sparked by a sharp rally in GameStop (+134.8%) and AMC Entertainment (+301.2%). Boeing shares slumped 4.0% after reporting a record annual loss. Shares of AMD tumbled 6.2% despite the chipmaker beat Wall Street’s earnings expectations. 

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