Wall Street Today | Netflix shares fall 20% on slowing subscriber growth

The company on Thursday said it signed up 8.3 million subscribers in the latest quarter, bringing its paid global subscriber base to 221.8 million. The streaming platform had projected 8.5 million net new subscribers for the period, in line with the prior year's fourth quarter. The consensus forecast among analysts on Wall Street was for 8.3 million, according to FactSet.

U.S. stocks fell on Thursday, as a late-afternoon selloff erased what had been an early rally, showing that investors are still concerned about the prospects of tightening monetary policy and slowing growth.

U.S. home sales surged to a 15-year high in 2021, powered by low borrowing rates and an intense buyer demand that are expected to keep the market hot during the first months of 2022.

But the recent rapid rise in interest rates has some housing economists forecasting that the market frenzy will subside in the second half of the year. Existing-home sales rose 8.5% from a year earlier to 6.12 million, the National Association of Realtors said Thursday. Home prices grew at a record pace across the country last year.

The feature, launching Thursday, is being offered to users of Twitter's Blue subscription service. It marks the company's biggest push thus far into NFTs, which are tokens that act as vouchers of authenticity for virtual goods, such as digital art, that can be tracked and traded along blockchain technology, a type of digital ledger.

Peloton plans to pause Bike production for two months, from February to March, the documents show. It already halted production of its more expensive Bike+ in December and will do so until June. It won’t manufacture its Tread treadmill machine for six weeks, beginning next month. And it doesn’t anticipate producing any Tread+ machines in fiscal 2022, according to the documents. Peloton had previously halted Tread+ production after a safety recall last year.

The Senate Judiciary Committee voted 16-6 Thursday to advance a major tech competition bill, which some experts consider legislators' best shot at making substantial reform to laws that govern the industry.

The American Innovation and Choice Online Act passed in a bipartisan manner, setting it on a path to potentially be adopted by the full Senate.

Five Republicans did vote with the Democrats to advance the bill out of the committee: Sen. Chuck Grassley, R-Iowa, the ranking member and co-sponsor alongside antitrust subcommittee Chair Amy Klobuchar, D-Minn., Sens. Lindsey Graham, R-S.C., Ted Cruz, R-Texas, Josh Hawley, R-Mo. and John Kennedy, R-La.

The U.S. tech giant said it filed a challenge at the EU Court of Justice "because we feel there are areas that require legal clarification" from the bloc's top judges, according to an emailed statement. The U.S. search giant wants the EU's top court to overturn a November ruling that backed antitrust enforcers' 2017 finding that Google breached competition rules. Judges supported the EU's view that Google shouldn't favor its own shopping service over rivals, an issue that's triggered complaints against other tech firms.

Shares of semiconductor companies fell on Thursday, with the group participating in a widespread late selloff for technology stocks that pushed the Nasdaq 100 Index into correction territory.

The Philadelphia Stock Exchange Semiconductor Index fell 3.3%, ending at its lowest since late October. The index has dropped more than 10% thus far this week, which would represent its biggest one-week percentage drop since March 2020. It is now down 13% off a December peak.