Stocks have deepened their morning losses by midday, with the Dow Jones Industrial Average (DJI) down 119 points, while both the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are firmly in the red as well. Investors are looking ahead to a decision from the Federal Reserve later today, with the central bank expected to announce the accelerated tapering of its bond-buying program amid skyrocketing inflation rates.

Investors are also digesting worse-than-expected November retail sales data, and grappling with renewed anxieties surrounding the Covid-19 omicron variant, which is spreading quicker than any other variant, according to the World Health Organization (WHO).

Roblox Corp (NYSE: RBLX) is seeing an uptick in bearish options volume today, with 68,000 puts across the tape so far, or double what is typically seen at this point. The December 90 put is the most popular, with positions being bought to open there, which suggests traders expect more downside for the stock by the time this contract expires. RBLX is down 10.9% at $95.90 at last check, set for its fifth-straight daily drop after the company projected average bookings per active daily user for November to fall by up to 9% year-over-year. 

One of the best stocks on the Nasdaq today is CMC Materials Inc (Nasdaq: CCMP), which was last seen up 28.4% at $187.38, following news that Entegris (ENTG) will acquire the company for $6.5 billion is cash and stock. The news has CCMP eyeing its first close above the 320-day moving average since June, putting the security at a 23.4% year-to-date lead.

One of the worst stocks on the Nasdaq is ATAI Life Sciences NV (Nasdaq: ATAI). The equity was last seen down 31.2% at $6.90 after its shareholders entered into extended, voluntary share lock-up agreements with Aperion shareholders. Earlier today, the stock hit a record low of $6.64.