Stocks fall, Nasdaq drops nearly 2.5% as tech sector stumbles
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.
· European stocks close higher as investors digest central bank decisions
European stocks jumped on Thursday as investors in the region digested monetary policy decisions from several major central banks.
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.
Central bank spotlight
The Bank of England on Thursday hiked interest rates for the first time since the onset of the pandemic, despite concerns over the rapid spread of the omicron variant in the U.K.
Global investors began the day digesting the Federal Reserve’s signal on Wednesday that it would be aggressive on tapering bond purchases and sees several rate hikes in 2022.
Reference: CNBC
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