Stocks Are Sinking

The stock market has turned decidedly lower in the last few minutes on no obvious news.

Best Buy is the biggest loser in the S&P 500, down 9%. The electronics retailer reported disappointing Q3 comparable store sales growth and warned that competitive pricing could put the squeeze on profit margins during the holiday shopping season.

Other notable losers today include First Solar (down 3.6%) and GameStop (down 2.5%).

“Monetary policy is likely to remain highly accommodative long after one of the economic thresholds for the federal funds rate has been crossed,” wrote Federal Reserve Chair nominee Janet Yellen in a letter to Senator Elizabeth Warren.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at