GameStop soars again; Wall Street bends under the pressure
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers
Stocks sank again as a speculative frenzy over GameStop and a handful of other stocks ramps up worries over how much damage an online revolt against Wall Street bigwigs can do to the broader market.
The S&P 500 fell 1.9%, giving the index its biggest weekly loss since October. GameStop soared nearly 70% Friday, continuing a saga that's captivated and confused many on Wall Street and beyond.
Calls for regulators to step in, meanwhile, grew louder. GameStop and other downtrodden stocks have become battlegrounds where swarms of smaller investors see themselves making an epic stand against financial elites who bet the stocks would fall.