Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon, today is Wednesday, October 22nd, and I'm your host, Kim Kahn.

Our top story so far, spot gold and silver remain under pressure following a historic one-day drop.

The sell-off follows

Tuesday's stunning plunge, one of the sharpest in years for precious metals. Silver is now trading

in correction territory down more than 10% from its recent intraday highs. Gold is down around

8%. Oleghansen, Saxo Bank's head of commodity strategy, says a very technical extended rally

has traders focused on

protecting gains rather than chasing new highs. The latest price action also underlines how

silver's liquidity is roughly one-ninth that of gold, magnifying both rallies and corrections,

he added. Meanwhile, Spartan capital's Peter Cardillo says that the sell-off looks more like a

healthy pullback than

the start of a serious correction. Both medals are off their lows and have a chance to move

into the green by the end of the trading day still. We'll see if traders conscript a turnaround,

or if this reel has more selling to go. Among active stocks, is it to infinity and beyond for

beyond meat? The stock is seeing a short-sweeze slash meme stock action,

rallying another 50% today after soaring nearly 150% Tuesday. Shares are now up 10-fold from their

low last week. Shorts look to be racing to cover with open short interest north of 50% on the stock.

Seeking alpha analyst, Joseph Parrish, says the rally has little to do with

fundamentals, as Beyond's valuation now fully reflects its difficult turnaround prospect.

AT&T beat expectations for key subscriber metrics in Q3, which helped investors overlook profit

that only meant expectations and a miss on revenue. The company added 288,000 fiber

...