Stocks showed a lack of direction for much of morning trading on Thursday but came under considerable pressure in the afternoon. The major averages all showed notable moves to the downside, with the Nasdaq and the S&P 500 snapping their longest winning streaks in two years.
The major averages climbed off their worst levels going into the close but remained firmly negative. The Nasdaq slumped 128.97 points or 0.9 percent to 13,521.45, the S&P 500 slid 35.43 points or 0.8 percent to 4,347.35 and the Dow fell 220.33 points or 0.7 percent to 33,891.94.
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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.