Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains
Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains.
The selling was widespread, sending the benchmark S&P 500 3.5% lower, its biggest loss since June. The tech-heavy Nasdaq fell 5%. Both indexes set record highs a day earlier.
Treasury yields fell as cautious investors shifted money into bonds.
The S&P 500 fell 125.78 points, or 3.5%, to 3,455.06.
The Dow Jones Industrial Average dropped 807.77 points, or 2.8%, to 28,292.73.
The Nasdaq composite lost 598.34 points, or 5%, to 11,458.10.
The Russell 2000 index of smaller company stocks gave up 47.61 points, or 3%, to 1,544.68.
For the week:
The S&P 500 is down 52.95 points, or 1.5%.
The Dow is down 361.14 points, or 1.3%.
The Nasdaq is down 237.53 points, or 2%.
The Russell 2000 is down 33.66 points, or 2.1%.
For the year:
The S&P 500 is up 224.28 points, or 6.9%.
The Dow is down 245.71 points, or 0.9%.
The Nasdaq is up 2,485.50 points, or 27.7%.
The Russell 2000 is down 123.79 points, or 7.4%.
This item has been updated to correct the closing number for the Dow Jones Industrial Average. It was 28,292.73, not 29,292.73.