Wall Street faced a downturn as major tech companies, including Microsoft and Meta Platforms (the parent company of Facebook), experienced declines that impacted market performance. On Thursday, the S&P 500 index dropped by 1.9%, marking its most significant decline in the past eight weeks. The Dow Jones Industrial Average also fell by 0.9%, while the Nasdaq composite saw a notable decrease of 2.8%.

Despite Microsoft and Meta posting profits that exceeded expectations for their latest quarter, market analysts indicated that investor hopes were set even higher. Additionally, other major technology stocks such as Nvidia, Amazon, and Apple contributed to the market’s decline as they ranked among the heaviest burdens in the trading landscape. Compounding this situation, Treasury yields fluctuated within the bond market amid mixed economic reports released.

On Thursday, the following changes were observed in the market:

– The S&P 500 saw a decline of 108.22 points, or 1.9%, concluding at 5,705.45.

– The Dow Jones Industrial Average decreased by 378.08 points, or 0.9%, settling at 41,763.46.

– The Nasdaq Composite experienced a downturn of 512.78 points, or 2.8%, finishing at 18,095.15.

– The Russell 2000 index, which tracks smaller companies, fell by 36.38 points, or 1.6%, bringing its value down to 2,196.65.

Looking at broader trends for the week:

– The S&P 500 has decreased by 102.67 points, or 1.8%.

– The Dow has experienced a drop of 350.94 points, or 0.8%.

– The Nasdaq has fallen by 423.45 points, or 2.3%.

– The Russell 2000 has seen a decrease of 11.34 points, or 0.5%.

When considering year-to-date performance:

– The S&P 500 is up by 935.62 points, representing a 19.6% rise.

– The Dow has gained 4,073.92 points, or a 10.8% increase.

– The Nasdaq has shown an improvement of 3,083.80 points, translating to a 20.5% gain.

– The Russell 2000 index has increased by 169.58 points, or 8.4% so far this year.