Market update: Dow Jones, S&P 500, and Nasdaq experience significant sell-off – Live coverage

Major stock indexes saw a decline in late trading on Thursday, with the Dow Jones Industrial Average and small-cap Russell 2000 experiencing the most significant losses due to broad-based selling. The Dow, which had started the day at a record high, closed 1.3% lower, erasing all gains from the previous day. The S&P 500 closed 0.8% lower, while the Nasdaq composite slid 0.7% after seeing losses mount. Builders and bankers led the charge on Thursday, with homebuilder D.R. Horton standing out as the biggest gainer on the S&P 500, hitting an all-time high. The technology sector continued to struggle, with plenty of tech groups ranking low in industry performance. On the other hand, the Commercial Services-Outsourcing group managed a gain of 2.5%, with Automatic Data leading the way. Infosys surged more than 8% after beating analysts’ estimates, while stocks like Blackstone and Allstate also saw positive movement. Jobless claims came in higher than expected, while Taiwan Semiconductor Manufacturing and Domino’s Pizza saw declines due to earnings announcements. United Airlines, Nvidia, Meta Platforms, Apple, and Tesla were among the notable stock movers on Thursday.