U.S. stocks fell in early trading on Thursday, with Wall Street extending a multiday decline and adding to the losses incurred in the worst session for the major averages in months as investors continued to fret over rising bond yields and the prospect of higher interest rates.
Shares fell globally, with steep losses in both Asia and Europe. Tech stocks were lower in premarket trading, while energy shares could also come under pressure as oil prices sink.
What are major benchmarks doing?
The Dow Jones Industrial Average DJIA, -1.12% fell 96 points, or 0.4%, to 25,500. More than 20 of the blue-chip average’s 30 components were in negative territory.
The S&P 500 SPX, -1.18% lost 8.5 points to 2,778, a decline of 0.3%. The benchmark index was on track for its sixth straight daily decline, its longest losing streak since a nine-day decline that ended in November 2016. Nine of the 11 primary S&P 500 sectors were lower.
The Nasdaq Composite Index COMP, -0.86% fell 7 points, or 0.1%, to 7,411.
On Wednesday, both the Dow and the S&P suffered their biggest one-day drop since February, while the Nasdaq had its biggest slump since June 2016.
The decline took the major indexes below key levels, which could be a catalyst for additional selling ahead. Both the Dow and the S&P closed below their 50-day moving averages, a closely watched metric for short-term momentum trends. This was the first time both have ended below this level since July.
Meanwhile, both the Nasdaq and the Russell 2000 ended below their 200-day moving averages on Thursday. This was the first time the Russell has done so since August 2017, and the first time the