Tech tumble jams Wall Street into reverse; sharpest fall since June


The Dow Jones Industrial Average fell 807.77 points, or 2.78%, to close at 28,292.73, the S&P 500 lost 125.78 points, or 3.51%, to 3,455.06 and the Nasdaq Composite dropped 598.34 points, or 4.96%, to 11,458.10. While S&P and Nasdaq's percentage declines on Thursday were their deepest since June 11, it was the Dow's biggest one-day plunge since June 26.

NEW YORK: Wall Street's main indexes closed sharply lower on Thursday, marking their deepest one-day declines since June as investors dumped the high-flying technology sector, while economic data highlighted concerns about a long and difficult recovery.

The Nasdaq led the pullback with a decline of almost 5% a day after it and the S&P 500 posted record closing highs.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Wall Street , technology , Nasdaq , Dow Jones , S&P ,

   

Next In Business News

Buyout proposal for Anglo American could reshape copper market
AI memory boom propels SK Hynix’s numbers
Airlines must now provide automatic refunds for cancelled flights
Ford profit up on sales of commercial vehicles
Property market recovery on the horizon
Wall St set to open lower as Meta Platforms, economic data weigh
Al-’Aqar REIT aims to acquire yield-accretive properties from KPJ Healthcare
Samenta wants micro enterprises to be exempted from e-invoicing
Pantech seeks Main Market listing for subsidiaries via SPV
Inta Bina secures RM224.80mil contract for serviced apartment project

Others Also Read