Publishing date: Jan 29, 2021 • January 29, 2021 • 2 minute read • The U.S. Securities and Exchange Commission (SEC) on Friday said its regulators were keeping an eye on the whipsawing share prices of some Wall Street stocks that had been targeted by a social media-driven campaign intended to make wealthy hedge funds suffer. Photo by Olivier Douliery/AFP via Getty Images
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Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose.
The S&P 500 Index fell almost 2 per cent, turning negative for the year and posting its biggest weekly decline in three months as day traders’ bids for heavily-shorted stocks fuelled speculation hedge funds would need to reduce their market exposure. GameStop Corp. and AMC Entertainment Holdings Inc. soared in a return of volatility for sto