Another sell-off on Wall Street sent the Nasdaq composite 10% below its record as whiplash over tariffs grows and as AI stars lose more of their shine.
The S&P 500 lost 1.8% Thursday. The Nasdaq composite sank 2.6%, and the Dow Jones Industrial Average dropped 1%. 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%, to 5,738.52.
The Dow Jones Industrial Average fell 427.51 points, or 1%, to 42,579.08.
The Nasdaq composite fell 483.48 points, or 2.6%, to 18,069.26.
The Russell 2000 index of smaller companies fell 34.19 points, or 1.6%, to 2,066.55.
For the week:
The S&P 500 is down 215.98 points, or 3.6%.
The Dow is down 1,261.83 points, or 2.9%.
The Nasdaq is down 778.02 points, or 4.1%.
The Russell 2000 is down 96.52 points, or 4.5%.
For the year:
The S&P 500 is down 143.11 points, or 2.4%.
The Dow is up 34.86 points, or 0.1%.
The Nasdaq is down 1,241.54 points, or 6.4%.
The Russell 2000 is down 163.60 points, or 7.3%.
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