Wall Street sell-off gains steam as Dow plunges 950 points, tech set to snap 10-day winning streak; European markets close lower with economic data in focus; BELEX15 up 0.54%; Serbia's credit profile backed by growth potential, fiscal consolidation, Moody's says 
Stocks fell sharply on Thursday as investors paused in the wake of a recent rally to all-time highs. Tech, the market leader since the rebound began in late March, was the biggest laggard.  
The Dow Jones Industrial Average dropped 900 points, or 3.1%. The S&P 500 slid 3.9% and the Nasdaq Composite fell by 5.2%. Apple shares fell 7%. Amazon and Netflix were both down at least 5%. Facebook traded 4% lower. Microsoft slipped 5.7%. Alphabet pulled back by 4.8%. The S&P 500 tech sector traded 5.5% lower and was on track for its biggest one-day decline since June 11, when it fell 5.8%. The sector was also headed for its first losing session in 11 trading days.  
Thursday’s decline came even after better-than-expected unemployment data. The number of first-time filers for unemployment benefits totaled 881,000 for the week ending Aug. 29, the Labor Department said Thursday. Economists polled by Dow Jones expected first-time applications to have decelerated to 950,000 during the week ending Aug. 29. 

European markets closed lower on Thursday as investors digested key economic data from around the world. The pan-European Stoxx 600 provisionally ended down by 1.5%, reversing earlier gains, as almost all sectors slipped into negative territory. Technology stocks led the losses, falling almost 4%. 
Final euro area Markit Purchasing Managers’ Index (PMI) composite readings Thursday showed that economic activity expanded by more than expected in August, coming in at 51.9 against a forecast of 51.6, with a reading above 50 representing monthly expansion. 
British Airways parent IAG climbed 6% to lead a broad rally for the travel sector, with Easyjet, Tui and Lufthansa all adding more than 4%. 

BELEX15 was up 0.54% as Komercijana advanced 1.9%, while NIS added 0.52%. The most active name was Metalac as it generated RSD 4.4m in volume. We saw no major corporate events&news. 
Serbia's Ba3 credit profile with a positive outlook is supported by its relatively high income compared to peers alongside a relatively large and diverse manufacturing sector which helps to attract sizeable foreign investment, Moody's Investors Service said on Thursday. Relatively low and stable inflation as well as enhancements to the monetary policy framework have also led to a more stable macroeconomic environment, while the European Union (EU) accession process will continue to drive gradual institutional improvements, Moody's said in a statement. 
Source: CNBC, Ilirika