Stocks resumed their 2022 sell-off on Thursday, sending the S&P 500 to a new low for the year, as fears swirled that a recession won’t stop the Federal Reserve from raising interest rates.
The sell-off was broad-based and was led by Apple, which tumbled as a major investment bank downgraded the one-time bear market outperformer. The stock closed down 4.9%.
The S&P 500 declined 2.1% to 3,640.47 in a new closing low for the year. During the session, it also fell to a new 2022 intraday low of 3,610.40. This is also its lowest intraday level since 2020.
Meanwhile, the Dow Jones Industrial Average plunged 458.13 points, or 1.54%, to 29,225.61. The tech-heavy Nasdaq Composite fell 2.84%.
The moves followed a broad rally for stocks Wednesday, as the Bank of England said it would purchase bonds in an effort to help steady its financial markets and the cratering British pound. Sterling has stooped to record lows against the U.S. dollar in recent days.
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Article URL : https://www.cnbc.com/2022/09/28/stock-market-news-open-to-close-futures-live-updates.html