Wall Street selloff accelerates after brief break

Shares sell off began on Thursday as the dollar slightly slid and eased its domination over currency markets amid recession fears that quake the stocks and bonds markets suffering more interest rate pain.

After a partial rebound on Wednesday, US stocks sharply fell on Thursday. The Dow Jones Industrial Average fell 1.73%, the S&P 500 lost 2.25%, touching a fresh two-year low, and the Nasdaq Composite dropped 3.09%, weighed down by big technology names such as Apple Inc and Amazon.com.

The market would welcome some stability, so, stocks, after some rest, resumed their 2022 selloff on Thursday, giving back the prior rally and sending the S&P 500 to a new low for the year.

The selloff was broad-based and was led by Apple, which fell as a major investment bank downgraded the one-time bear market outperformer. The stock was last down nearly 6%. The S&P 500 declined 2.9% to a new bear market low for the year. The Dow Jones Industrial Average plunged 681 points, or 2.3%, while the tech-heavy Nasdaq Composite fell 3.9%.