The Nasdaq Composite notched its biggest drop in a month, as an afternoon sell-off took hold.
The tech-heavy index closed 1.1 per cent lower on Thursday, its worst one-day fall since the end of April. The benchmark S&P 500 fell 0.6 per cent, while in contrast to its bigger cousins, the small-cap focused Russell 2000 added 1 per cent.
Investors are now turning their attention to inflation figures on Friday morning, when the personal consumption expenditures price index data are released. Economists forecast the headline index, which the Federal Reserve uses to set its 2 per cent inflation target, to remain steady at an annual pace of 2.8 per cent in April.
US Treasuries recovered ground after a sell-off on Wednesday. The yield on the 10-year note fell 0.08 percentage points to 4.55 per cent. The yield on the two-year note dropped by 0.06 percentage points to 4.93 per cent.
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