New York:US stocks closed lower on Thursday, with significant declines in major indices, particularly the Nasdaq Composite, which fell by 361.77 points, or 1.36%, to close at 26,188.08.
According to Wam, the downward trend was driven largely by technology stocks, as disappointing earnings from Alphabet renewed concerns over returns on heavy artificial intelligence investments.
The S&P 500 also saw a decline, dropping 22.96 points, or 0.31%, to 7,721.02. Meanwhile, the Dow Jones Industrial Average fell by 129.30 points, or 0.25%, to settle at 52,345.80.