Dow drops 500 pts as negative sentiment returns
The Dow Jones Industrial Average index accelerated losses shortly after the open on Thursday, falling more than 500 points. Investor worries about high interest rates that could remain in place for a long time outweighed optimism seen yesterday when United States stock markets managed to snap a week-long losing streak.
The Dow Jones plummeted 1.49% or 440 points at 9:53 am ET, pulled down by Apple, Walgreens Boots and Boeing, all of which lost over 3%. The Nasdaq 100 was 2.36% down and the S&P 500 plunged 1.84% at 9:53 am ET.
The euro was flat against the dollar, going for 0.97330 simultaneously.