Blue-Chip Blasted By Opioid Lawsuit

The blue-chip index registered a triple-digit drop

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Schaeffer's Market Recap
3/16/2021
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Blue-Chip Index Pulls Back; S&P Brushes Off Fresh Record High


By: Fernanda Horner

Stocks careened lower this afternoon, as investors held their breath over the Federal Reserve's economic policy decision tomorrow, with many fearing that interest rates could continue to rise. The Dow snapped its seven-day streak with a 127-point drop, pulling back from all-time highs. Similarly, the S&P 500 also fell from grace, despite earlier setting a new intraday record. The tech-heavy Nasdaq, meanwhile, was the only benchmark able to hold onto modest gains. 

In other news, traders largely brushed off worse-than-expected retail sales data for February, after January data was revised upward to show a 7.6% jump. What's more, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), dropped to its lowest level in more than a year.

Continue reading for more on today's market, including:

  • Bull signal says don't sweat this gambling stock's pullback. 
  • Walgreens stock under pressure amid opioid lawsuit.
  • Plus, beauty retailer slammed with downgrade; unpacking Sundial Growers' joint venture; AbbVie stock higher on sale talks.
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