The US markets ended lower on Thursday amid uncertainty surrounding release of key U.S. economic data. Though the US President Donald Trump has signed a short-term funding bill to end the government shutdown, White House press secretary Karoline Leavitt has said that the October jobs and consumer price inflation reports are likely never being released as a result of the shutdown. Further, traders remained cautious as lack of key economic data added more uncertainty about a rate cut by Federal Reserve in December. Besides, valuation concerns continued to weigh on tech stocks, with AI darling and market leader Nvidia (NVDA) moving sharply lower along with tech heavyweights like Broadcom (AVGO) and Alphabet (GOOGL).
On the sectoral front, computer hardware stocks turned in some of the market's worst performances on the day, with the NYSE Arca Computer Hardware Index plummeting by 7.0 percent. Semiconductor, networking and software stocks also saw substantial weakness, contributing to the steep drop by the tech-heavy Nasdaq.
Dow Jones Industrial Average tumbled 797.60 points or 1.65 percent to 47,457.22, S&P 500 plunged 113.43 points or 1.66 percent to 6,737.49 and Nasdaq plummeted 536.10 points or 2.29 percent to 22,870.36.
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