Stocks sharply decline ahead of Friday's closing bell

Yahoo Finance's Jared Blikre joins the Live show to check out market and sector losses amid today's sell-off, while also looking at meme stocks and the travel industrial.

Video transcript


SEANA SMITH: We are just minutes away from the closing bell. And the closing bell cannot come soon enough. Again, another ugly day on Wall Street. Jared Blikre has a closer look at this for us. And, Jared, it doesn't seem to be getting that much better.

JARED BLIKRE: No. We're going to give this 65 more seconds, then it's over, Seana. The Dow is down about 4% for the week. You can see steady losses since Wednesday. That would be FOMC day. S&P 500 not far-- actually, a little bit more far behind, almost approaching 5%, and losses in the NASDAQ well over 5%-- or just a little bit above 5%.

Here's the sector action for today. Energy really taking it on the chin. WTI crude oil closing at, I believe, about 52-week lows with a 79 handle. Haven't seen that since at least December, January, going back to about a year ago. Now, health care, utilities, tech, real estate, financials, all of those are the least bad shorts in the house.

But I'll tell you what, health care was a standout earlier this week, not so today. Also checking in on some of our risk metrics. We're going to check in on meme stocks. I haven't done that recently. Tilray down 3%. We had American Airlines down 4%, remember when that was a meme stock. Finally going to close on some of these banking stocks also taking hits, Goldman, Morgan Stanley, HSBC down 3%