After moving sharply higher over the course of the previous session, stocks showed a substantial move back to the downside during trading on Thursday. The major averages largely offset Wednesday's gains, with the S&P 500 once again falling to its lowest closing level since late 2020.
The major averages climbed well off their worst levels going into the close but continued to post steep losses. The Dow slumped 458.13 points or 1.5 percent to 29,225.61, the Nasdaq plunged 314.13 points or 2.8 percent to 10,737.51 and the S&P 500 tumbled 78.57 points or 2.1 percent to 3,640.47.
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