Why Robinhood Markets Shares Are Falling

Shares of several banks and financial services companies, including Robinhood Markets Inc HOOD, are trading lower as investors react to minutes from the Fed's FOMC meeting. Minutes showed most Fed members viewed conditions for rate hikes as potentially being met relatively soon.

The 10-year Treasury yield hit an intraday high of 1.712% early Wednesday afternoon before dipping to around the 1.702% level. Overall market volatility is persistent again during Wednesday's session as investors continue to weigh omicron concerns.

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Robinhood Markets is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

Robinhood Markets has a 52-week high of $85.00 and a 52-week low of $15.77.