Stocks took a steep dive on Thursday, in the worst week for Wall Street since June — and just days after its best August performance since the 1980s.
Following a volatile day that saw the Dow Jones Industrial Average plunge by 1,000 points at one point, the blue-chip index ended the day down by 810 points. The S&P 500 index closed with a decline of 3.5 percent and the Nasdaq Composite plunged by 4.96 percent.
The tech sector, which has spearheaded much of the market’s meteoric rise since the pandemic began, led Thursday’s pullback as investors cashed in their highly valued tech stocks.
Apple marked its worst day since March, with shares down by more than 7 percent. Amazon, Salesforce, Alphabet and Microsoft all saw declines in the 5 percent range.
Facebook fell by 5.2 percent after an announcement that it would ban