The S&P finished down 2.1 percent while the Dow closed down 2.06 percent. Both indexes had their worst day since Feb. 3, 2014. On that day the S&P was down 2.28 percent and the Dow finished down at 2.06 percent.
The slide came a day after the Federal Reserve released the minutes from its July meeting. Most analysts interpreted the minutes as less indicative of a September rate hike. Wall Street had previously anticipated that the Fed might have more reason to move next month.
Here are some other milestones hit in this trading session:
- The S&P is now negative for the year
- Consumer discretionary sector had its worst day since June 1, 2012
- All sectors finished the day negative, and only utilities were positive for the week
- The S&P once again traded below its 200-day moving average level of 2,078.2 on an intraday basis (today is the first time the S&P closed below its 200-day since July 9)
- The Nasdaq is trading below its 50-day level of 5,075.21 and closed below its 200-day for the first time since Oct. 17
- Cumulative volume on Thursday was 7.9 billion shares, the most volume since Aug. 12, when 8.28 billion shares were traded