Nasdaq tumbles 1.3% in late-day slump | Peloton to halt production of Bikes | Netflix earnings

The Nasdaq Composite closed further in correction territory Thursday.

VIEW IN BROWSER | SUBSCRIBE THU, JAN 20, 2022 EVENING BRIEF AS OF THU, JAN 20, 2022 • 04:48 ET DJIA 34715.39 -0.89% -313.26 S&P 500 4482.73 -1.10% -50.03 NASDAQ 14154.02 -1.30% -186.24   Most Active DOW NAME LAST CHG %CHG AAPL 164.51 -1.72 -1.03% MSFT 301.60 -1.73 -0.57% INTC 52.04 -1.58 -2.95% S&P 500 NAME LAST CHG %CHG F 21.65 -0.80 -3.56% AMD 121.89 -6.38 -4.97% AAPL 164.51 -1.72 -1.03% NASDAQ NAME LAST CHG %CHG PTON 24.22 -7.62 -23.93% AMD 121.89 -6.38 -4.97% AAPL 164.51 -1.72 -1.03%   EDITOR'S NOTE The Nasdaq Composite closed further in correction territory Thursday after failing to hold a 2.1% gain from earlier in the day. The tech-heavy index ended the session down 1.3%.   The Dow Jones Industrial Average and S&P 500 followed suit. The Dow ended the day down more than 300 points, after being up by more than 400 points earlier in the trading session. The S&P 500 fell 1.1%, reversing its earlier gain of roughly 1.5%. The S&P 500 closed below 4,500 for the first time since October 2021.   Investors selling in the final hour of trading has become a trend this month, according to Bespoke Investment Group. "On average, US equities have rallied into lunch time, but there's also been heavy selling late in the session," the firm said. "Late-day declines that are much worse than average in a given month do not typically lead to underperformance going forward." Bond yields were little changed but remained elevated on Thursday. Analysts expect the market volatility to continue due to concerns about rising rates, inflation and the economic recovery.   "After a year with only one 5% correction for the S&P 500, investors need to be aware that 2022 probably will be a much rougher ride," said Ryan Detrick of LPL Financial. "With rate hikes coming and the historically volatile midterm year on the horizon, more violent ups and downs could be in store for investors this year."   The S&P 500 is headed for the third straight week of losses, tumbling nearly 3.9% so far. The Dow is down 3.3% this week.  The Nasdaq is the biggest loser, down by close to 5% this week. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow falls 300 points, gives up earlier gains as Wall Street's struggles persist Peloton to halt production of its Bikes, treadmills as demand wanes Fed releases long-awaited study on a digital dollar, but doesn't take a position yet on creating one December home sales drop 4.6%, as supply hits record low American Airlines London-bound flight turns back to Miami after passenger refuses to wear mask GOP and Democratic governors reinstate Covid emergency orders to combat omicron surge FAA warns 5G-related landing restrictions could divert flights as snow hits airports These ETFs and stocks have broken their long-term trends in this latest sell-off These cheap and loved Nasdaq stocks could be buys following the correction Netflix shares fall on slowing subscriber growth   TOP VIDEO Lawmakers look to break up Big Tech with new antitrust bill   CNBC PRO These are Morgan Stanley's favorite stocks into earnings   SPECIAL REPORTS Biden 'not sure' enhanced child tax credit, free community college will stay in Build Back Better Here are 3 things to know about unemployment claims   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.