With hotter-than-expected inflation data leading to renewed concerns about the outlook for interest rates, stocks moved sharply lower during trading on Thursday. The major averages showed a significant pullback after turning positive over the course of Wednesday's session.
The major averages regained ground after an initial sell-off but once again came under pressure in the final hour of trading. The Dow slumped 431.20 points or 1.3 percent to 33,696.85, the Nasdaq plunged 214.76 points or 1.8 percent to 11,855.83 and the S&P 500 tumbled 57.19 points or 1.4 percent at 4,090.41.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.