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Stocks slid on Thursday in a choppy first trading session of the new year, as the slump to end 2024 extended into January.
The Dow Jones Industrials slumped 151.95 points to 42,392.27.
The S&P 500 doffed 13.08 points to 5,868.55, for its fifth straight down day.
The NASDAQ dropped 30 points to 19,280.79, which was also its fifth consecutive decline.
The holiday-shortened week has been light on economic data, but a jobless claims report on Thursday showed both initial and continuing unemployment claims falling week over week.
Tech giant Apple weighed on the market, falling 2.6%. Tesla fell 6% after reporting that annual deliveries declined in 2024. Chipmaker Nvidia rose 3%, helping to somewhat offset the declines from other Big Tech stocks.
Thursday’s trading moves come after a solid 2024 for stocks ended on a sour note. The S&P 500 surged 23%, but ended the year with four-straight down days for the first time since 1966.
Prices for the 10-year Treasury gained, lowering yields to 4.56% from Tuesday’s 4.57 %. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.40 to $73.12 U.S. a barrel.
Prices for gold were elevated $32.10 an ounce to $2,673.10 U.S.
