(CNBC) Stocks fell on Thursday, with most of the losses coming in a sudden move midday.
Traders could not pinpoint a catalyst for the sudden decline. However, some highlighted technical factors breaking down along with an increased risk-off sentiment stemming from fears of the coronavirus slowing the global economy.
The Dow Jones Industrial Average was down 150 points, or 0.5%. The 30-stock average went from trading down about 200 points to a session low of down 388 points in roughly two minutes before rebounding. The S&P 500 slid 0.5% and the Nasdaq Composite dropped 0.8%. Thursday’s moves come a day after the S&P 500 and Nasdaq hit record highs.
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