Stocks moved sharply lower over the course of the trading session on Thursday, more than offsetting the rally seen during trading on Wednesday. With the sharp pullback on the day, the major averages tumbled to their lowest closing levels in well over a year.
The major averages climbed off their worst levels going into the close but still posted steep losses on the day. The Dow plunged 741.46 points or 2.4 percent to 29,927.07, The Nasdaq plummeted 453.06 points or 4.1 percent to 10,646.10 and the S&P 500 dove 123.22 points or 3.3 percent to 3,666.77.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.