5/5/2022, 10:01 PM (Source: TeleTrader)
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US erases prior day's rally, Dow drops 1,000 pts at close

Major United States stock market indexes ended Thursday's session deep in the red, erasing the previous day's gains and recording the worst day since the start of the year.

The tumble was seemingly prompted by the investors' doubts in regard to Federal Reserve's stance on interest rates and its efforts to ensure stable prices in the country. During the session, the precious metals and cryptocurrencies also tumbled, while Treasury yields rose to levels last seen in November 2018.

The Dow Jones Industrial Average plummetted 3.12% or 1,063 points at the close with Salesforce down by 6.95%. The Nasdaq 100 nosedived 5.06% at the same time as Cognizant tumbled 12.75% and three other units recorded double-digit falls. The S&P 500 dove 3.56% as the session ended with Etsy toppling 16.83%. The euro decreased by 0.67% compared to the euro, selling for 1.05504 at 3:58 pm ET.

Baha Breaking News (BBN) / BU