Dow Down Over 1,000 Points Over Two-Day Span

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Those higher rates have been the catalyst for recent selling, stoking concerns that slower growth would impinge on corporate profits.

All of these stocks have seen sharp gains on the year and yet investors have been quick to sell-off and take profits as they shift into more conservative securities like bonds and treasury notes.

US crude dropped 3 percent while Brent crude, the worldwide standard, dropped 3.4 percent.

On Wednesday, President Donald Trump said the Fed "is making a mistake" with its campaign of rate increases.

"As stocks go up, tech goes up more than the stock market".

The data helped push U.S. Treasury yields to a one-week low, further soothing equity investors. Early Thursday, National Economic Council Director Larry Kudlow in a news conferfence heralded the administration's economic policies and assured the public that "the war on business is over". The International Monetary Fund cut its outlook for global growth this week, citing interest rates and trade tensions. It was at just 3.05% early last week and 2.82% in late August. Amazon, Apple, Alphabet and Facebook all fell by between 2.3pc and 3.9pc. Wholesale gasoline, heating oil and natural gas also declined.

Investors may want to shift out of momentum and into more defensive stocks - companies that aren't as expensive and also pay healthy, stable dividends.

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USA stocks are plunging toward their worst loss in six months on Wednesday as technology companies continue to take sharp losses.

The Dow Jones industrial average had its second-biggest drop of the year, plunging almost 500 points, or 1.9 percent, shortly after 2:00 p.m. The Nasdaq composite, which has a high concentration of technology stocks, tumbled 244 points, or 3.2 percent, to 7,495. That decline came after the Dow's largest single-day drop in history, when it fell 1,175 points earlier that month.

Shares in upscale jewellery retailer Tiffany & Co and perfume maker Estee Lauder both fell 7 percent after a warning from French luxury goods firm LVMH about softening demand in China. The Nikkei was down more than 3% in morning trading Thursday. Apple sank 4.6 percent, Microsoft dropped 5.4 percent, and Google's parent company lost 4.6 percent. Tencent has retreated 43 percent from its high this year and fallen out of the top 10 global companies by market value.

USA markets are coming off their steepest losses in eight months. "The market's starting to say that the glass may be half empty".

The dollar slipped to 112.17 Japanese yen from 112.27 yen late Wednesday.

The euro and sterling rose, underpinned by optimism for a Brexit deal, while the US dollar lost ground against a basket of currencies even as USA yields hovered near multiyear peaks. Brent crude, the worldwide standard, dropped 3.4 percent to $80.26 a barrel in London.

Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on Wednesday.

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