06-10-2022, 09:22 AM
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Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38% to settle at 4,017.82, and the Nasdaq Composite shed 2.75% to come in at 11,754.23.
Major tech stocks struggled, with Meta Platforms sliding 6.4% and Amazon dropping more than 4%. Apple sank 3.6%.
Casino stocks were some of the worst performers in the S&P 500, with Las Vegas Sands falling 5.6% and Caesars Entertainment sliding 3.8%. Chinese tech stocks reversed recent gains and dragged on the Nasdaq, with Pinduoduo sinking 9.6%.
Boeing was the worst performer in the Dow, falling more than 4%.
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