Dow plummets 650 points as higher rates keep Wall Street on edge
Stocks fell sharply on Thursday as strong earnings and economic data were not enough to quell jitters from higher interest rates on Wall Street.
The Dow Jones industrial averagetraded 650 points lower after opening just above the flatline. The 30-stock index also approached 23,778.74, its low for the week.
The S&P 500 pulled back 2.4 percent after a higher open, with financials as the worst-performing sector. The index also broke below its 100-day moving average, a key technical level. The Nasdaq composite fell 2.7 percent.
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