Investing.com – Wall Street fell on Thursday as investors remained on edge following days of global equity sell-offs.
The S&P 500 was down 29 points or 1.09% to 2,652.39 as of 11:11 AM ET (16:11 GMT) while the Dow composite decreased 325.81 points or 1.31% to 24567.54, and tech heavy NASDAQ Composite was down 85 points or 1.21% to 6,966.45.
Markets closed slightly lower on Wednesday, after days of finishing in the red. The market sell off started on Friday, after better than expected wage increases sparked concerns over increased interest rates. Some analysts have argued that the market swings are merely a market correction rather than a crash.
Social media site Twitter Inc (NYSE:TWTR) was among the top gainers after the morning bell, surging 19.21% after it posted a quarterly profit for the first time. Food delivery service Grubhub Inc (NYSE:GRUB) rose 26.39% after it reported a jump in users.
Elsewhere Snap fell 8.19% while Amazon.com (NASDAQ:AMZN) was down 1.14% and Facebook (NASDAQ:FB) lost 2.03%. General Electric Company (NYSE:GE) decreased 1.84% and clothing firm Canada Goose Holdings Inc (NYSE:GOOS) slipped 16.42% despite posting a higher than expected fourth quarter.
In Europe stocks were down. In Germany the DAX fell 279 points or 2.22% while France’s CAC 40 decreased 78 points or 1.49% and in London the FTSE 100 lost 75 points or 1.05%. Meanwhile Spain’s IBEX 35 was down 190 point or 1.91% and the pan-European Euro Stoxx 50 slumped 67 points or 1.95%.
In commodities, gold futures rose 0.21% to $1,317.40 a troy ounce while crude oil futures fell 0.83% to $61.28 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.07% to 90.10.