Major US stock indices closed lower on Thursday due to selling pressure extending beyond the technology sector, impacting various sectors including communication services, consumer staples, consumer discretionary, financials, and healthcare. The Dow Jones Industrial Average dropped by over 1.2%, while the S&P 500 and Nasdaq Composite declined by half a percent and 0.2% respectively.
On Thursday, the sell-off that affected tech stocks on Wednesday spread to other sectors of the market, causing significant losses in communication services, consumer staples, consumer discretionary, financials, and healthcare sectors.
The Dow Jones Industrial Average fell by over 1.2%, the S&P 500 dropped half a percent, and the Nasdaq Composite declined 0.2%. These declines resulted in major US stock indices closing lower on Thursday.
For the second consecutive week, the indices ended on a mixed note. During this period, the Nasdaq shed 0.7% and the S&P 500 fell nearly half a percent. In contrast, the Dow Jones Industrial Average added 0.4%, marking its third straight weekly gain.
It is worth noting that these market movements reflect investor sentiment and could potentially impact the overall economic outlook.
Source:
Akashvani News
