Stock rout deepens with 30 minutes left in the session, Dow slides more than 600 points; European markets close lower amid rising U.S. bond yields; StanChart down 6% 
U.S. stocks fell sharply Thursday as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names. 
The Dow Jones Industrial Average dropped 650 points from a record high. The S&P 500 lost 2.8%. The tech-heavy Nasdaq Composite slid 3.8% as Alphabet, Facebook, Apple and Microsoft all dipped more than 3%. Tesla dropped 9%. 
The major averages tumbled in a rapid fashion as the 10-year Treasury yield soared about 0.2% above 1.6% in a sudden move that some described as a “flash” spike. The yield later settled back down to around1.5%, its highest level since February 2020. 
Investors shrugged off better-than-expected economic data out Thursday. First-time jobless claims totaled 730,000 for the week ended Feb. 20, versus a print of 845,000 expected by economists polled by Dow Jones. Meanwhile, durable goods orders increased by 3.4% in January, compared to a Dow Jones consensus of 1.0% growth. 
GameStop, the controversial meme stock whose massive short squeeze shocked Wall Street last month, is on the rise again. Shares were up more than 80% in volatile trading after doubling in the previous session on the reported ousting of a chief executive. 

The pan-European Stoxx 600 fell 0.27%, with chemicals shares falling 1.8% to lead losses as most sectors and major bourses finished in negative territory. 
AB InBev forecast higher revenues in 2021, but also projected inflated costs and a possible hit to margins, sending the company’s stock 6% lower. 
Standard Chartered reaffirmed its long-term profit targets and restored its dividend Thursday, though higher credit impairments due to the Covid-19 pandemic led to a 57% fall in annual profit for 2020, missing analysts’ expectations. The British lender’s stock fell 6%. 
Source: CNBC