AlphaTALKS Wall Street Breakfast, Feb. 27: What Moved Markets This Week

Stock markets sold off this week as the yield on U.S. 10-year Treasurys briefly rose past 1.6%. Most of the damage came on Thursday, when the Nasdaq posting its biggest one-day loss in four months. Besides tech, cryptocurrencies (and crypto-proxy stocks) were the big losers. More on that below.Tech stocks have rebounded today, though the broader market struggled to gain traction. As of 2 p.m. on Friday, the S&P 500 (SP500) was down 1.5% for the week, with the Nasdaq (COMP) and Dow Industrials (DJI) off 1.1% and 3.6%, respectively.Winners & LosersMost movement came off earnings-related news, but the ‘reopening trade’ quietly continued. Cruise lines rallied, with Royal Caribbean (NYSE:RCL) adding 22% for the week. Norwegian Cruise Lines (NYSE:NCLH) gained 14% and Carnival (NYSE:CCL) 11%.Airlines also did well, with the U.S. Global JETS ETF (NYSEARCA:JETS) gaining 8% for the week. American Airlines (NASDAQ:AAL) was the best-performing U.S. airline, adding 18%, followed by United Airlines (NASDAQ:UAL) which gained 15%. JetBlue Airways (NASDAQ:JBLU) and Delta Air Lines (NYSE:DAL) are up about 10% each.Commodity prices rallied, with the exception of gold (XAUUSD:CUR), which dropped 3.7% this week. Among the biggest winners in energy were Marathon Oil (NYSE:MRO), whose shares gained 24% and National Oilwell Varco (NYSE:NOV), which added 13%. Deere & Co. (NYSE:DE) shares also had a strong week, adding 16%.Bond-related ETFs were unsurprisingly among the losers: BlackRock's iShares iBoxx Investment Grade Corporate Bond ETF (NYSEARCA:LQD) fell to a nine-month low yesterday. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) is down about 4.6% this week and the iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF) has given up about 2%.Salesforce (NYSE:CRM) slipped after the company provided a downside profit forecast on its fourth-quarter earnings and is off 6.5% for the week.Cryptocurrencies had an awful week even as Coinbase (COINB) filed for its IPO. Bitcoin (BTC-USD) was off about 14%. Crypto-proxies predictably went along, with Riot Blockchain (NASDAQ:RIOT) dropping by 27% and Grayscale Bitcoin Trust (GBTC) declining 14%.What Caught Our Eye(s) This WeekKim: GameStop (NYSE:GME), part deux. Why it happened?Brad: Workhorse Group (NASDAQ:WKHS) short-sellers vindicated in U.S. Postal Service electric vehicle award;Stephen: Twitter (NYSE:TWTR) investor day update;Nat: Davey Day-Trader moves markets again, this time Churchill Capital Corp (NYSE:CCIV). ("Davey was right about New Haven, Conn., being the pizza capital of the world, though.")About This PodcastAlpha TALKS Wall Street Breakfast is a weekly podcast covering what moved markets this week (WMMTW), featuring a panel of Seeking Alpha editors.Hosted by Nathaniel E. Baker, Senior Editor, Strategic Contributors, and featuring:Bradley Olesen, VP News (off this week);Kim Khan, Senior News Editor;Stephen Alpher, Managing Editor News, co-host of Seeking Alpha's Alpha Trader podcast.A slightly longer video publishes every Friday by close of trading on the SeekingAlpha.com website. Watch this week's video here.The video can also be seen on the Seeking Alpha YouTube account.Learn more about your ad choices. Visit megaphone.fm/adchoices