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Starbucks, SaaS Stocks Weigh Down Nasdaq

Jan 27, 2021 - Nasdaq

The stock market has moved aggressively higher for months, but investors hit an air pocket on Wednesday. Some Wall Street pros have been taken aback by the massive short squeeze in well-known stocks, and that has raised new uncertainty in the current environment. Just after 2:30 p.m. EST, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down more than 2%.

Earnings season continued apace, and investors in Starbucks (NASDAQ: SBUX) weren't entirely happy with what they saw. Meanwhile, many stock...