US Stocks Fall as ‘Sell America' Sentiment Returns | Closing Bell

• US equity markets closed sharply lower, with the S&P 500, Dow Jones, and Nasdaq all down more than 1.7%, driven by broad-based selling.
• Netflix (NFLX) Q4 revenue and EPS beat estimates, but its 2026 revenue and 1Q 2026 EPS/operating margin forecasts were cautious or below expectations, causing shares to fall over 3% after-hours.
• Netflix plans to pause share buybacks to fund a pending all-cash acquisition of Warner Bros. Discovery, which is generally unpopular with shareholders.
• United Airlines (UAL) reported strong Q4 results, beating EPS estimates and anticipating a robust 2026 driven by high-spending domestic and international travelers, leading to a rally of over 1% in after-hours trading.

US equity markets experienced a broad-based sell-off, with major indices closing sharply lower, reflecting a 'Sell America' trade. Netflix's Q4 earnings beat expectations, but its cautious 2026 revenue and 1Q EPS/operating margin forecasts, coupled with a pause in share buybacks for an all-cash acquisition, led to a significant after-hours decline. United Airlines, however, beat Q4 estimates and provided a strong 2026 outlook, with its stock rallying in after-hours trading.