On September 11, U.S. stocks have sharply decreased. The S&P 500 lost 1.8% while the Nasdaq Composite fell 2%. The DJIA (Dow Jones Industrial Average) dropped 1.5% or 406 points, after being up more than 200 points on September 10.
On Thursday, all 11 sectors in the S&P 500 lost more than 1%, with energy’s 3.8 decline and technology’s 2.2% fall the worst in the index.
Stock index futures had been higher following the latest figures on the job market before the market opened. As reported by Government, 884,000 people filed initial claims for unemployment benefits last month, in line with the total a week before. Analysts predict that figure might drop to 830,000.
The Thursday action follows a three-day fall in technology and tech-related stocks that put the Nasdaq Composite into correction territory on September 8. The same group had risen the market for 2020 and led a partial rally from the plunge on September 9.
The U.S. economy has rebounded sharply from its spring lows; Unemployment stays high, and state and local budgets are strained, leading to more layoffs down the road. Some of economics and ventures have been waiting that Congressional legislation would help on both fronts.
Nikkei and Kospi rose while Hang Seng decreased.
Meanwhile, in Asia, the Kospi and Nikkei 225 both gained 0.8%. However, the Hang Seng eased 0.6%.
In Europe, the Stoxx Europe 600 declined by 0.6% after the Europian Central Bank monetary that monetary policy would not change.
The German Dax dropped by 0.2% while the United Kingdom’s FTSE 100 eased 0.2%.
Leading companies such are Amazon, Apple, Zoom, and Alphabet have witnessed a decline on September 10. Alphabet decreased by 1.4%, while Amazon.com lost 2.9%. Apple dipped 3.3% after being above 2% earlier. Zoom Video Communication declined by 1.3%, while Nvidia fell 3.2%.