The S&P 500 fell 1.8%. The Nasdaq 100 slid 2.2%. The Dow Jones Industrial Average dropped 1.5%. A gauge of the Magnificent Seven megacaps sank 3.1%. A UBS basket of of US stocks negatively impacted by tariffs sank 2.9%.
Indian markets saw a mixed close on Thursday. While the Nasdaq and S&P dipped due to Big Tech’s AI spending concerns, the Dow edged higher.
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.
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