Stocks fall, Nasdaq drops nearly 2.5% as tech sector stumbles; European markets close higher as investors focus on Fed decision; European stocks close higher as investors digest central bank decisions
U.S. stocks slid on Thursday as weakness among large tech stocks dragged down major market averages.
The tech-heavy Nasdaq Composite fell 2.47% for its worst day since September, closing at 15,180.43. The S&P 500 shed 0.87% to 4,668.67. The Dow Jones Industrial lost a modest 29.79 points, or 0.08%, after being up more than 200 points earlier in the session, closing at 35,897.64.
Thursday’s trading action was marked by struggles for some large tech names, with Apple falling 3.9% and major semiconductor stocks like AMD and Nvidia dropping nearly 5.4% and 6.8%, respectively. Shares of Adobe fell more than 10% after the company’s forward guidance came in lower than analysts expected.
The pan-European Stoxx 600 ended the day up 1.2%, with oil and gas stocks jumping 2.8% to lead gains as all sectors and major bourses traded in positive territory.
The ECB left its benchmark refinancing rate unchanged at 0%, while the rate on its marginal lending facility remained at 0.25% and the rate on its deposit facility was kept at -0.5%, in line with expectations.
EDF shares plunged 15.5% after faults were found at one of its French nuclear power stations, leading the utility giant to cut its core profit goal for the year.
Source: CNBC, Investing.com