Yahoo Finance's Ines Ferre joins the Live show to break how down how stocks are moving in early trading.
BRIAN SOZZI: Now over to Ines Ferre at the YFi Interactive. Ines.
INES FERRE: And Brian, we are taking a look at the NASDAQ right now that's down more than 1 and 1/2%. In fact, the NASDAQ set to end the week in negative territory. Same situation with the S&P 500 right now. Taking a look also at the US Dollar Index, that has been rising higher. Yesterday, it was at 107. It just hit 108 earlier this morning.
Let's take a look under the hood. So we're watching tech stocks that are under pressure, communications services, consumer discretionary. We're also seeing Bitcoin under pressure, the meme stocks under pressure. So if we just take a look at the NASDAQ 100, quite a bit of red here that we're seeing. Also with the semis, the semis are pulling back from their performance yesterday.
Then taking a look at the Cineworld stock, let's just take a look at this new chart that we've got. Movies right here, and we're seeing that Cineworld is down 63% after that report about plans for bankruptcy. So taking a look also at the meme stocks, we are watching Bed, Bath & Beyond. I know that we've shown it before, but this is the biggest drop for Bed, Bath & Beyond since January of 2021.
So here's the meme stock chart. Right now, a lot of red on the screen. And if we just pull up the biggest loser right now, Bed, Bath & Beyond, down 41%. And we also have a Twitter poll out there, asking people were you surprised that Ryan Cohen sold his shares? And guess what, guys? 79% said, no, they're not surprised. 21% said yes.
JULIE HYMAN: Hmm.
BRIAN SOZZI: Hmm.
JULIE HYMAN: It's easy for them to say that, isn't it? I don't know. OK, we'll see. We'll keep on that poll and find out the final, final results.