Stock market live updates: Dow down 200, Fed goes all-in, waiting on Congress

Following the coronavirus-induced sell-off, Apple is no longer part of the trillion dollar club. Shares have slid 28% in the last month, cutting the tech giant’s valuation to just over $981 billion. Apple was the first U.S. company to top the $1 trillion mark, hitting that milestone in August of 2018. Amazon, Microsoft and Google parent-company Alphabet all later topped $1 trillion, although Microsoft is the only one still worth more than $1 trillion. That said, amid the broad market sell-off, all four names have held up better than the S&P 500. – Stevens, Bursztynsky

The Nasdaq Composite erased early losses and traded in the positive territory in morning trading, as gains in big tech companies including Amazon, Netflix, Microsoft and Facebook dragged the tech-heavy index higher. Netflix, a popular stay-at-home bet, jumped 5.6%, leading the advance in the so-called FANG stocks. —Li

The VanEck Vectors Semiconductor ETF (SMH) is up almost 1.6%, on pace for its second positive day in three. The advance was led by a 9% gain in Microchip stock and a 6% rise in ON Semiconductor.  —Francolla

Stocks continued their roller coaster pattern on Monday, with the Dow down more than 200 points. Stock futures originally pointed to a 900 point decline, then implied a positive open, and are now back down in morning trading. — Fitzgerald 

The three major averages fell on Monday despite the Federal Reserve announcing limitless asset purchases, which originally lifted stock futures.The Dow Jones Industrial Average fell 350 points after the opening bell. The S&P 500 and Nasdaq dipped 1.7% and 0.15%, respectively. Investors are waiting on a government stimulus package announcement as soon as Monday. — Fitzgerald 

Source: https://www.cnbc.com/2020/03/23/stock-market-live-today.html

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