U.S. Stocks Close Thursday with Losses
The Dow Jones Industrial Average plummeted 1.2%, shedding 592.58 points to settle at 48,908.72.
The Nasdaq cratered 1.59%, losing 363.99 points to finish at 22,540.59, while the S&P 500 tumbled 1.23%, declining 84.32 points to close at 6,798.40.
The Volatility Index (VIX)—commonly termed the "fear index"—spiked 16.79% to 21.77 points.
Amazon shares experienced massive declines after the e-commerce titan disclosed intentions for aggressive capital expenditures targeting artificial intelligence development.
Market participants responded harshly to expectations that elevated AI infrastructure spending would erode near-term profit margins.
The yield on the 10-year US Treasury note edged marginally higher to 4.15%.
The US dollar index strengthened 0.3% relative to a basket of major currencies.
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