U.S. stocks closed lower on Thursday as the Consumer Services, Basic Materials, and Financials sectors experienced losses, driving down market indices.
At the closing bell on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) retreated 1.08%, marking a fresh one-month low. The broader S&P 500 index recorded a decline of 1.64%, while the tech-heavy NASDAQ Composite index fell by 1.82%.
Among the notable performers on the DJIA, UnitedHealth Group Incorporated (NYSE: UNH) stood out, gaining 1.81% or 8.93 points to finish at 501.06. Meanwhile, Walt Disney Company (NYSE: DIS) inched up by 0.19% or 0.16 points, closing at 82.72, while Intel Corporation (NASDAQ: INTC) slipped 0.12% or 0.04 points to reach 34.65 in late trading.
Conversely, the DJIA had its share of decliners, with Cisco Systems Inc (NASDAQ: CSCO) experiencing a substantial drop of 3.89%, shedding 2.16 points to end the day at 53.34. Dow Inc (NYSE: DOW) also saw a decline of 2.76%, or 1.45 points, closing at 51.01, while Nike Inc (NYSE: NKE) dipped 2.61%, or 2.45 points, to finish at 91.59.
On the S&P 500, top performers included FedEx Corporation (NYSE: FDX), surging by 4.48% to 261.75, Fox Corp Class A (NASDAQ: FOXA), up by 3.18% to settle at 32.14, and Fox Corp Class B (NASDAQ: FOX), which gained 2.99% to close at 29.59.
Conversely, the worst performers on the S&P 500 included Alexandria Real Estate Equities Inc (NYSE: ARE), down 8.29% to 102.93 in late trade, Boston Properties Inc (NYSE: BXP), losing 7.14% to settle at 60.88, and Caesars Entertainment Corporation (NASDAQ: CZR), declining by 5.30% to 47.51 at the close.
The NASDAQ Composite also experienced notable gains, with MSP Recovery Inc (NASDAQ: LIFW) soaring by 54.68% to 0.24, Near Intelligence Inc (NASDAQ: NIR) rising by 40.53% to settle at 0.29, and Solowin Holdings Ltd (NASDAQ: SWIN) closing with a 35.00% gain at 4.05.
However, the worst performers on the NASDAQ Composite included Travere Therapeutics Inc (NASDAQ: TVTX), which fell by 40.68% to 7.64 in late trade, Cheche Group Inc (NASDAQ: CCG), losing 40.60% to settle at 14.85, and Seelos Therapeutics Inc (NASDAQ: SEEL), down 37.73% to 0.19 at the close.
Market data revealed that declining stocks dominated advancing ones on the NYSE, with a ratio of 2463 to 476, while 53 stocks ended unchanged. On the Nasdaq Stock Exchange, 2474 stocks registered declines compared to 1009 that advanced, with 113 ending unchanged.
Alexandria Real Estate Equities Inc (NYSE: ARE) saw its shares plummet to five-year lows, shedding 8.29% or 9.31 points to close at 102.93. Travere Therapeutics Inc (NASDAQ: TVTX) also hit five-year lows, plummeting by 40.68% or 5.24 points to 7.64, and Seelos Therapeutics Inc (NASDAQ: SEEL) dropped to all-time lows, losing 37.73% or 0.12 to close at 0.19.
The CBOE Volatility Index (VIX), reflecting the implied volatility of S&P 500 options, surged by 15.85% to 17.54, reaching a fresh one-month high.
In commodities trading, Gold Futures for December delivery declined by 1.37%, or 26.95, to $1,940.15 per troy ounce. Meanwhile, Crude oil for November delivery decreased by 0.09%, or 0.08, reaching $89.58 per barrel, while the November Brent oil contract fell by 0.30%, or 0.28, to trade at $93.25 per barrel.
In the currency market, EUR/USD remained unchanged at 1.07, while USD/JPY fell by 0.55% to 147.51. The US Dollar Index Futures rose by 0.27% to 105.07.
