Another sell-off on Wall Street sent the Nasdaq composite 10 percent below its record as whiplash over tariffs grows and as AI stars lose more of their shine.
The S&P 500 lost 1.8 percent Thursday. The Nasdaq composite sank 2.6 percent, and the Dow Jones Industrial Average dropped 1 percent. Stocks fell even though President Donald Trump offered another temporary reprieve on some of his tariffs.
The move amplified the uncertainty that’s been rocking the market amid worries that a global trade war could damage economies and worsen inflation. AI superstars also took heavy losses, weighing on the market.
On Thursday:
The S&P 500 fell 104.11 points, or 1.8 percent, to 5,738.52.
The Dow Jones Industrial Average fell 427.51 points, or 1 percent, to 42,579.08.
The Nasdaq composite fell 483.48 points, or 2.6 percent, to 18,069.26.
The Russell 2000 index of smaller companies fell 34.19 points, or 1.6 percent, to 2,066.55.
For the week:
The S&P 500 is down 215.98 points, or 3.6 percent.
The Dow is down 1,261.83 points, or 2.9 percent.
The Nasdaq is down 778.02 points, or 4.1 percent.
The Russell 2000 is down 96.52 points, or 4.5 percent.
For the year:
The S&P 500 is down 143.11 points, or 2.4 percent.
The Dow is up 34.86 points, or 0.1 percent.
The Nasdaq is down 1,241.54 points, or 6.4 percent.
The Russell 2000 is down 163.60 points, or 7.3 percent.
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