U.S. Stocks Plunge On Negative Reaction To Tesla, Alphabet Earnings, Surging Crude Oil
Complete. Here is the key summaryU.S. stocks plunged on Thursday, driven by negative reactions to Tesla and Alphabet earnings reports and surging crude oil prices. The tech-heavy Nasdaq led the decline, falling 2.2%, while the S&P 500 dropped 1.2% and the Dow slumped 1%. Although major averages recovered slightly from session lows, they closed firmly in negative territory.
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After ending Wednesday's choppy session modestly lower, stocks showed a more substantial move to the downside during trading on Thursday. The major averages all moved notably lower, with the tech-heavy Nasdaq showing a particularly steep decline.
The major averages ended the day off their lows of the session but still firmly negative. The Nasdaq plunged 553.21 points or 2.2 percent to 25,137.69, the S&P 500 tumbled 90.66 points or 1.2 percent to 7,408.30 and the Dow slumped 506.93 points or 1 percent to 51,711.65.
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