NEW YORK The erratic trading in shares of underdog companies like GameStop that turned markets combustible last week appears to have migrated to commodities, sending silver prices surging to an eight-year high. Silver futures jumped more than 9% on Monday to $29.42 per ounce with .silversqueeze trending on Twitter. That exuberance spread to companies that mine precious metals, especially silver. Shares of Pan American Silver surged about 12%, First Majestic Silver rose 22% and Hecla Mining spiked 28%. Last week, there were messages on the Reddit forum WallStreet Bets and other places on social media encouraging small investors to buy silver. The metal shot up Monday, but many of the online investors said it wasn t them bidding up the price.
Silver prices surge as Wall Street s GameStop stock bug may have mutated
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¿Es la plata el nuevo GameStop? Los futuros del metal precioso saltan en pocos días
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U.S. stocks skid Friday to book worst week since October, as GameStop ruckus and vaccine news stress market MarketWatch 1/29/2021
MARKET SNAPSHOT
Stocks tumbled Friday, with the Dow and S&P 500 index booking the worst month of losses since October, as volatile trade in a batch of small, heavily shorted companies raised broader concerns about a bubble in a market already worried that the slowness of the coronavirus vaccine rollout is delaying a return to economic normality.
How did major benchmarks perform?
The Dow Jones Industrial Average slumped 620.74 points, or 2%, to close at 29,982.62, its lowest close since Dec. 14, 2020.
The S&P 500 shed 73.14 points, or 1.9%, ending at 3,714.24.
U.S. stocks skid Friday to book worst week since October, as GameStop ruckus and vaccine news stress market MarketWatch 1/29/2021
MARKET SNAPSHOT
Stocks tumbled Friday, with the Dow and S&P 500 index booking the worst month of losses since October, as volatile trade in a batch of small, heavily shorted companies raised broader concerns about a bubble in a market already worried that the slowness of the coronavirus vaccine rollout is delaying a return to economic normality.
How did major benchmarks perform?
The Dow Jones Industrial Average slumped 620.74 points, or 2%, to close at 29,982.62, its lowest close since Dec. 14, 2020.
The S&P 500 shed 73.14 points, or 1.9%, ending at 3,714.24.