Stock market selling accelerated without a clear catalyst on Thursday.
The Dow Jones Industrial Average fell 523 points, or 1%. The S&P 500 dropped 1%. The Nasdaq Composite sank 1.5%.
“This is becoming a pattern,” Steve Sosnick, chief strategist of Interactive Brokers, told Barron’s. “The US market opens higher thanks to gains from overseas, then fades a bit later. Yesterday it was benign, last week it was more like this, where the declines were sharper until the requisite dip buyers emerged. We’ll see if they can once again come to the rescue and arrest the drop.”
