US stocks ended sharply lower on Thursday as investors were concerned Those of the Federal Reserve aggressive policy course fueling fears of a recession in the US economy.
The downtrend is down over 8% this month as the S&P 500 has fallen to its lowest level last seen in November 2020.
Tech heavyweight stocks, including apple inc AAPL and NVIDIA Corporation NVDA fell over 4% on Thursday.
Turning to economic data, US initial jobless claims fell 16,000 to 193,000 for the week ended September 24, hitting their lowest level since late April, while the US economy grew an annualized 0.0% sequentially in the second quarter. 6% shrank.
That Nasdaq100 fell 2.86% to close at 11,164.78 on Thursday during the S&P500 fell by 2.11%. That Dow Jones fell 458 points to settle at 29,225.61 in the previous session.
All major sectors of the S&P 500 ended on lower notes, with utilities and consumer discretionary stocks posting the biggest falls on Thursday.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 5.5% to 31.84 points on Thursday.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put options of the S&P 500 index options.
