Selling accelerated after the Federal Reserve left interest rates unchanged and Chairman Jerome Powell pointed to the headwinds facing the economy.

The Dow plunged 633 points, or 2%.

The selling was even worse for the S and P 500 NASDAQ, which both dropped more than 2.5% Wednesday.

Adding to the market turmoil, amateur retail investors piled into shares of video game retailer Gamestop and cinema operator AMC Entertainment, pushing up their shares and forcing short sellers like Citron to ditch their losing bets.

Gerber Kawasaki CEO Danilo Kawasaki says regulators need to step in because on one side I think that this, um it impacts the integrity of the market.

And, uh, we need confidence from investors Thio to maintain an orderly market.

But on the other side, my colleagues here are, you know, saying that this is an opportunity for the small guy for the little guy to kind of stick to the big guys.

Other big movers Wednesday Boeing shares declined almost 4% the airplane manufacturer took a huge $6.5 billion charge on its new wide body, twin engine Triple Seven X jet due to the health crisis and the aftermath of the safety issues over its narrowbody 7 37 max.

After the markets closed, shares of to Silicon Valley Tech titans rose modestly after posting strong results.

Apple's quarterly profit breezed past estimates New five G iPhones helped push handset revenue to a new record and sparked a 57% rise in China sales.

Facebook's quarterly profit and revenue crushed analysts estimates.

Increased ad spending by businesses lifted the social networking companies top line, but Tesla shares slid after hours.

The electric car makers profit came in short off Wall Street's targets.