US markets plunged on Thursday’s opening bell as the country faced the highest inflation figures since 1982, with initial jobless claims rising above market estimates.
Nine of the 11 major S&P sectors declined, with technology, down 1.9%, falling the most after leading a Wall Street rally in the previous session.
Megacap growth stocks Microsoft, Meta Platforms and Tesla all slipped more than 1%, while Nvidia Corp and Apple dropped over 2.5% each.
Shares of Amazon.com jumped 7% after its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan
The Dow Jones sank 0.97%. The Nasdaq 100 tumbled 1.21% and the S&P 500 fell by 0.95%.
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