U.S. Stocks Pulling Back Sharply Following Yesterday’s Rally

Stocks have moved sharply lower over the course of the trading day on Thursday, more than offsetting the rally seen in the previous session. The major averages have all shown significant moves to the downside, with the tech-heavy Nasdaq posting a particularly steep loss.

Currently, the major averages are just off their lows of the session. The Nasdaq is down 1,285.64 points or percent at 24,450.87, the S&P 500 is down 254.35 points or 3.3 percent at 7,434.27 and the Dow is down 1,210.59 points or 2.3 percent at 52,145.53.