Key market indexes trimmed losses into the close but remained sharply lower in the stock market today, with the Dow plunging as much as 390 points to test key support.
XThe Nasdaq trimmed its loss to 1.2% after diving as much as 1.9% during the session. The Dow Jones Industrial Average shaved its loss to 0.9%, as did the S&P 500. The Dow, down as much as 1.5% earlier, came down to test its 200-day moving average before paring losses. Small caps fared a bit better, with the Russell 2000 giving up 0.8%.
Volume swelled on both the NYSE and Nasdaq vs. Wednesday, according to preliminary numbers.
DowDuPont (DWDP), Apple (AAPL) and Goldman Sachs (GS) were some of the weakest on the Dow. DowDuPont, down 2%, extended its 2% Wednesday slide and marked its fifth decline in the past six sessions.
Apple, down nearly 2%, snapped a six-session win streak. Volume 25% lower than usual eased the sting somewhat as the stock works on the right side of a steep base. It's still 26% off an early October high. Apple on Thursday issued a software fix for a flaw that let people eavesdrop while using the iPhone's group FaceTime feature.
Energy, chipmaker and auto stocks were among the biggest sector losers in the stock market today. Oil stocks fell as West Texas Intermediate crude prices skidded 2.4% to $52.69 a barrel. But gaming software, homebuilders and retailers bucked the sell-off.
Carmakers had a bad day, down more than 3% as a group. Fiat Chrysler Automotive (FCAU) crashed 12%, gapping down below its 50-day line in rapid turnover. The U.K.-based company fell on a weaker-than-expected earnings outlook. The drop was its worst since July 25, which also followed an earnings report.
That weighed on other auto manufacturers, as Daimler (DDAIF), Ford Motor (F), General Motors (GM) and Tesla (TSLA) sank more than 3% each. Tesla fell below its 200-day line for the first time in nearly three weeks.
Video game makers rose 3%, after suffering an 11.5% plunge on Wednesday. Electronic Arts (EA) rose 5%, Take-Two Interactive (TTWO) jumped 4% and Activision Blizzard (ATVI) was up 2%.
Over in the IBD 50, Twitter (TWTR) gapped down and tumbled 10% to close below its 50-day line. The internet messaging platform delivered a Q4 earnings and sales beat but offered cautious revenue guidance. Shares are 35% off their 52-week high.
Other IBD 50 names getting hit included biotech Exelsis (EXEL), down 6%; online ad platform Trade Desk (TTD), off 4%; and chip designer Monolithic Power Systems (MPWR), which fell 3%.
The Innovator IBD 50 ETF (FFTY), which got a boost from CDW (CDW) and Match Group (MTCH), gave up 0.7%.
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