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•  20 Jan 2026
 

•   AAPL  
   
  +2.98%
•   APP  
   
  -4.92%
•   COIN  
   
  -6.09%
•   GOOGL  
   
  +3.24%
•   MMM  
   
  +2.18%

Wall Street closed sharply lower as risk aversion dominated trading, with the Nasdaq plunging 2.4% in a broad-based selloff. Renewed tariff threats from President Trump toward Europe, combined with rising geopolitical tensions around Greenland ahead of the Davos forum, pushed investors out of equities, bonds, and the dollar simultaneously, a classic macro stress signal that tends to amplify volatility.

$SPX The S&P 500 fell nearly 2%, erasing its gains for 2026 and sending the VIX to its highest level since November. For traders, this move matters less for the single-day loss and more for what it signals: positioning is being reset as macro and political risk overwhelms company-level fundamentals.

$NVDA Nvidia dropped more than 4% as mega-cap technology stocks led the decline. The selloff was not about AI demand or earnings outlook, but about exposure. When markets shift into defense mode, even the most crowded growth leaders become sources of liquidity, reminding investors how sentiment can overpower fundamentals in the short term.

$AAPL Apple joined the pressure, falling around 3.5% as investors reduced exposure to mega-caps across the board. The move reflects a broader pullback from size and perceived safety, underscoring that this is a market-wide risk adjustment rather than a company-specific reassessment of Apple’s business.

$NFLX Netflix traded lower ahead of its fourth-quarter earnings release, but the market’s focus is no longer just on subscriber growth or margins. The upcoming report comes at a strategic crossroads for the company, with investors weighing the long-term implications of its bold expansion moves against a backdrop of heightened macro uncertainty.

$WBD Warner Bros. Discovery remained in focus alongside Netflix as investors assess the evolving competitive landscape in streaming and media. In a risk-off environment, large strategic deals attract extra scrutiny, with the market demanding clearer paths to value creation.

$GOOGL Alphabet slipped nearly 2% as negative sentiment swept through big tech. Like its peers, the decline reflects macro pressure rather than operational concerns, highlighting how quickly broad risk aversion can compress valuations across even the strongest balance sheets.

$APP AppLovin showed volatility after steep premarket losses narrowed to a modest decline. Despite no direct exposure to tariff risks, the stock continues to suffer from sustained selling pressure, extending a multi-day slide that reflects the market’s broader retreat from higher-beta technology names.

$MRNA Moderna stood out on the positive side as long-term clinical data with partner Merck reinforced confidence in mRNA-based cancer treatments. Five-year follow-up results showing a significant reduction in recurrence and mortality for melanoma patients strengthen the investment case for mRNA beyond vaccines, offering a rare fundamental bright spot amid market turbulence.

$MRK Merck benefited indirectly from the same data, as the durability of outcomes tied to its immunotherapy franchise supports the long-term value of combination oncology treatments. In a defensive tape, credible medical breakthroughs can still attract capital.

$COIN Coinbase fell more than 5% as bitcoin slid below key psychological levels. The move illustrates how crypto-linked equities remain tightly correlated with risk sentiment, often magnifying underlying moves in digital assets when investors rush to cut exposure.

$NEM Newmont rose over 3% as gold surged to new record highs. With long-term yields rising and confidence in traditional safe assets wavering, gold once again assumed its role as a defensive anchor, lifting mining stocks as investors repositioned portfolios toward perceived safety.

$RAPT RAPT Therapeutics soared more than 60% after GSK agreed to acquire the company at a significant premium. The deal injected a dose of event-driven optimism into an otherwise risk-averse session, reminding traders that M&A can still unlock value even in volatile markets.

$MMM 3M edged lower despite reporting better-than-expected fourth-quarter earnings. The muted reaction highlights the current market dynamic, where strong fundamentals struggle to gain traction when macro fear and risk reduction dominate decision-making.

As attention turns to Davos and the next signals on trade and geopolitics, investors are left balancing selective fundamental opportunities against a market environment that remains highly sensitive to headlines, with volatility likely to stay elevated in the near term.

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