Shares in the struggling retail chain fell 60% on Wall Street on Tuesday to $90 as the mania sparked by small investors that had sent its value soaring past $300 a share last week looked like imploding. Yellen will convene heads of the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission, a Treasury official said on Tuesday. It came as treasury secretary Janet Yellen announced she would be calling a meeting of key financial regulators this week to discuss market volatility driven by retail trading in GameStop and other stocks.
A social media-driven buying spree lifted silver futures to an eight-year high on Monday, but dealers in the market for coins were already grappling with a supply shortage and shipping delays before that rally.