CLAMPDOWN ANGERS GAMESTOP INVESTORS

Robinhood and other retail brokerages took steps this week to tamp down the speculative frenzy surrounding companies such as GameStop. But the actions only sparked more volatility in the market and an outcry from users and members of Congress, who say small investors are being treated unfairly.

GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big institutions who had placed market bets that the stock would fall.

Robinhood said Thursday that investors would only be able to sell their positions and not open new ones in some cases.

Robinhood also said trading in stocks such as AMC Entertainment, Bed Bath & Beyond, Blackberry, Nokia, Express Inc., Koss Corp., American Airlines, Tootsie Roll, Trivago and Naked Brand Group would be affected by the new restrictions.

Interactive Brokers, Charles Schwab and TD Ameritrade took similar steps to restrict trading on their platforms Wednesday.