Wall Street plunges on Thursday as tech stocks plummet

11.09.2020 - Kulakov Vladimir
Wall Street plunges on Thursday as tech stocks plummet

Wall Street saw a sharp decline on Thursday after tech stocks retreated from gains made earlier in the day.  In addition, signs of a slowdown in the labor market raised concerns about the strength of an economic recovery.

The Dow Jones Industrial Average fell by 1.45% (406 points), while the S&P 500 lost 1.77%. The Nasdaq Composite saw a 2% slump.

Apple Inc’s stocks fell by nearly 3% ahead of the new iPhone launch expected later in the year. Meanwhile, stocks of Facebook, Alphabet, Amazon.com, and Microsoft all were seen falling by roughly 1%.

Investor sentiment further dampened by job growth concerns as the recent wave of COVID-19 stimulus plan dimmed failed to get the votes needed to advance in the Senate, CNBC reported.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?