CNBC Business News Update - Market Close: Stocks Sell Off, S&P 500 Index Drops 2% For Worst Day Since October, Trade War Worries Spook Investors 1/20/26

Episode Date: January 20, 2026

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Jessica Eddinger, CNBC. Wall Street opens Wednesday morning after the worst day in three months for stocks as President Trump turns his quest for Greenland into a fight with Europe. Even Bitcoin fell below 90,000. The Dow down 870 points, 1.7%. 3M shares let it lower. They were down almost 7%. The S&P 500 index fell 143 points. That was 2%. The NASDAQ fell 561 points. That was more than 2%. Only the Dow now is in the green for the year and just barely. Invidia shares were down more than 4% on Tuesday. The Sell America trade gained steam. J.P. Morgan's Thomas Kennedy on CNBC.

I think the trade today is pretty obvious. It's Cell America. I think in the long run, this will end up being noise. But in the short one, we've got to see what comes out of Davos. The dollars weaker, a Dana. pension fund selling off $100 million in U.S. Treasuries, citing the poor finances of the U.S. government, gold spiking as international investors flee U.S. assets. Sell America started last year when President Trump announced tariffs, and for 2025,

the MSCI All-City World Index, excluding U.S. stocks. It returned about 29 percent last year. The S&P 500 Index Fund brought in only 16 percent. Ridholz-Welts, Josh Brown, tells CNBC he's not worried. This is normal. We have these freakouts. We have these panics. If you want to take your portfolio and act like it's 1937 and we're about to invade Denmark, we're going to fight a war against Legoland. You're very welcome to do that. CNBC's Aiman Javvers is in Washington, D.C., and was in a Tuesday news conference with President Trump. He was asked how far he's willing to go in order to acquire Greenland.

and he said, you'll find out. The president continuing to stress that he needs Greenland for U.S. national security. Netflix out with somewhat disappointing quarterly results. Investors didn't want to see that the company might be stretching to try to buy Warner Brothers' discovery with cash, but investors like the cash plan. I've always said for years that you always want to see consolidation with cash. We like it better when companies buy other companies with cash. And so they've simplified the process.

This makes it much more cleaner and we feel a lot better about it. Humiless investments, Brian Belski on CNBC, Netflix shares were lower in after hours trading. Bond yields popped Tuesday, 10-year at its highest since Labor Day. Mortgage rates loosely follow the 10-year, and the average rate on a 30-year fixed home loan is back up to nearly 6.5% according to Mortgage News Daily. Indiana University on its way to big money with that National College Football Championship under its belt over Miami. This win, along with last season's great run, is going to propel Indiana's athletic program.

This is going to drive NIL money, which is name, image, and likeness. It's going to drive money from donors. Mark Cuban, who went Indiana, has put a lot of money into the school. If you go back over the last five years, on Indiana football, spending has almost tripled. Coach Signetti himself got a new contract. months ago. It's making him one of the highest paid coaches in all of college football. He's going to get about $4 million in

bonuses from this championship run on top of a salary that pays over $11 million a year. That's CNBC's Mike Ozanian. On Wednesday's watch list, President Trump speaks at the World Economic Forum in Davos, Switzerland. Jessica Eddinger,

CNBC. CNBC live ambitiously.