GameStop Rises 68%... New York Stock Market 'Collapses' (Comprehensive)

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market plunged again as GameStop, which attracted investments from individual investors, surged sharply.

On the 29th (local time), the Dow Jones Industrial Average fell sharply by 620.74 points (2.03%) to close at 29,982.62, the S&P 500 index dropped 73.14 points (1.93%) to 3714.24, and the Nasdaq index fell 266.46 points (2.0%) to close at 13,070.69.

The New York stock market recovered its upward trend after GameStop's stock price fell 44% the previous day, but returned to a weak trend in just one day.

The Dow index fell 3.3% for the week, dropping below the 30,000 mark. The S&P 500 index fell about 3.3%, and the Nasdaq dropped 3.5%.

GameStop's stock price, which Robinhood trading app allowed to be purchased again, soared more than 100% intraday and closed up 68%. AMC also surged 50%.

On this day, the U.S. Securities and Exchange Commission (SEC) announced that it would investigate whether Robinhood's investment restriction measures may have disadvantaged investors.

As stocks favored by individual investors rose, the existing leading stocks lost momentum.

Apple's stock price, which had led the market this year, fell 3.74%. Tesla's stock price dropped 5%, falling to the $700 range. This is the first time Tesla's stock price has fallen to the $700 range since the 6th of this month.

This content was produced with the assistance of AI translation services.