A wave of risk-off sentiment, coupled with some technical factors, pressured the broader stock market.
The major averages hit their session lows around midday trading after a sudden move down.
While the reason for the decline was not entirely clear, some traders pointed to some technical factors as well as a report from the state-run Global Times newspaper in China, which said coronavirus cases spiked at a hospital in Beijing. Others pointed to positions being unwound within so-called momentum stocks. "At this point, if we start seeing anything negative, it will probably force some people to start taking profits," said Christian Fromhertz of Tribeca Trade Group.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's what happened to the stock market on TuesdayThe major averages were under pressure for most of Tuesday's session after a stark warning from Apple.
Read more »
Here's what happened to the stock market on WednesdayWorries over the coronavirus and its impact on the economy were assuaged slightly, lifting two of the three major indexes to record highs.
Read more »
Asian stocks slip as virus' global impact puts markets on edgeAsian stocks eased and currency markets were skittish on Thursday, as virus case...
Read more »
5 things to know before the stock market opens ThursdayU.S. stock futures were pointing to a lower open Thursday after the S&P 500 and Nasdaq closed at record highs.
Read more »
Dow falls more than 300 points and Nasdaq suddenly skids 1.6% lower at Thursday's lowsU.S. stock-market gauges late-morning Thursday skidded sharply lower, briefly driving the indexes to an intraday nadir, with no apparent cause prompting the...
Read more »
Wall Street steady as virus fears build; E*Trade surges on buyout dealU.S. stocks were little changed on Thursday as a rise in the number of coronavir...
Read more »