U.S. stock benchmarks finished the trading day lower on Thursday, with the retreat led by declines in the Basic Materials, Consumer Services and Technology sectors.
At the New York Stock Exchange close, the Dow Jones Industrial Average was down 1.20%. The S&P 500 slipped 1.23%, and the Nasdaq Composite lost 1.59%.
Index and market-movers
On the Dow, the session's strongest performers included Travelers Companies (NYSE:TRV), which advanced 1.70% or 5.03 points to finish at 300.25. Coca-Cola Co (NYSE:KO) added 1.50% or 1.16 points to end at 78.51. Cisco Systems Inc (NASDAQ:CSCO) rose 1.48% or 1.20 points to close at 82.36.
Decliners on the Dow were led by Microsoft Corporation (NASDAQ:MSFT), which fell 4.95% or 20.52 points to 393.67 at the close. Salesforce Inc (NYSE:CRM) lost 4.75% or 9.47 points to end at 189.97, and Amazon.com Inc (NASDAQ:AMZN) dropped 4.56% or 10.63 points to 222.36.
S&P 500 session extremes
The top performers within the S&P 500 included McKesson Corporation (NYSE:MCK), which jumped 16.52% to 957.80. Corpay Inc (NYSE:CPAY) rose 11.56% to settle at 335.00, and Tapestry Inc (NYSE:TPR) gained 10.21% to close at 143.19.
At the other end of the S&P 500, FMC Corporation (NYSE:FMC) declined 19.57% to 13.67, Estee Lauder Companies Inc (NYSE:EL) fell 19.19% to finish at 96.66, and Cummins Inc (NYSE:CMI) dropped 10.73% to 540.65 at the close.
Nasdaq notable moves
On the Nasdaq Composite, Kelly Services B Inc (NASDAQ:KELYB) surged 208.62% to 37.96. Liminatus Pharma Inc (NASDAQ:LIMN) climbed 43.36% to settle at 2.05, and Utime Ltd (NASDAQ:WTO) gained 39.70% to close at 1.02.
Major declines on the Nasdaq included Decent Holding Inc (NASDAQ:DXST), which fell 61.92% to 0.65, Collplant Biotechnologies Ltd (NASDAQ:CLGN) which lost 53.42% to settle at 0.75, and Geospace Technologies Corporation (NASDAQ:GEOS) which was down 41.50% to 9.36 at the close.
Market breadth and milestone moves
Declining issues outnumbered advancing issues on the New York Stock Exchange by 1,861 to 902, with 66 unchanged. On the Nasdaq, 2,659 stocks fell and 790 advanced, while 114 were unchanged.
Several stocks recorded notable intraday milestones. Shares of McKesson Corporation (NYSE:MCK) rose to all-time highs, climbing 16.52% or 135.80 to 957.80. Tapestry Inc (NYSE:TPR) hit all-time highs as well, gaining 10.21% or 13.27 to 143.19. Travelers Companies (NYSE:TRV) advanced to an all-time high, up 1.70% or 5.03 to 300.25. Coca-Cola Co (NYSE:KO) also reached an all-time high, up 1.50% or 1.16 to 78.51.
On the downside, Salesforce Inc (NYSE:CRM) fell to 52-week lows after losing 4.75% or 9.47 to 189.97. Kelly Services B Inc (NASDAQ:KELYB) rose to three-year highs, gaining 208.62% or 25.66 to 37.96. Decent Holding Inc (NASDAQ:DXST) fell to all-time lows, down 61.92% or 1.06 to 0.65, and Collplant Biotechnologies Ltd (NASDAQ:CLGN) likewise fell to all-time lows, losing 53.42% or 0.86 to 0.75.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures implied volatility for S&P 500 options, rose 16.79% to 21.77, a new one-month high.
In commodities, Gold Futures for April delivery fell 2.68% or 132.66 to $4,818.14 a troy ounce. Crude oil for March delivery declined 3.21% or 2.09 to $63.05 a barrel, while the April Brent contract was down 3.12% or 2.17 to trade at $67.29 a barrel.
On the currency front, EUR/USD was unchanged 0.19% to 1.18, while USD/JPY rose 0.24% to 157.06. The US Dollar Index Futures moved higher by 0.37% to 97.85.
Close
Thursday's session closed with broad weakness across major U.S. indexes, pronounced moves among individual equities that produced new highs and lows, and rising volatility and commodity price shifts reflected in futures and foreign exchange rates.