Markets: News  

The S&P 500 is down 0.7%, and the Nasdaq continues to underperform with a 1.9% decline. Looking at the FAANG stocks shows mixed results. Apple (AAPL 122.18, -3.79, -3.0%), Amazon (AMZN 3150.60, -30.16, -1.0%), and Alphabet (GOOG 2048.60, -16.28, -0.8%) weigh on the market, while Facebook (FB 263.75, +3.42, +1.3%) and Netflix (NFLX 536.02, +2.24, +0.4%) trade in positive territory. Separately, shares of Churchill Capital Corp IV (CCIV 39.40, -17.82, -31.2%) have dropped 31% after the company confirmed its SPAC deal with Lucid Motors. CCIV shares "mooned" nearly 500% since the end of Jan. 8.