Thursday was a rough session across Wall Street, with all major indices finishing sharply in the red. The Nasdaq bore the brunt of the damage, tumbling 2.39% to close at 20,828.58, as investors aggressively unwound positions in high-multiple technology stocks. The S&P 500 fell 1.79% to 6,457.35, while the Dow Jones held up comparatively better but still dropped 1.04% to 45,641.63.
Small-caps were not spared either, with the Russell 2000 declining 1.74% to 2,464.5, signaling that the risk-off tone was broad rather than isolated to large-cap tech. The selling pressure felt systematic, sweeping across market capitalizations and sectors alike.
Meta Platforms was the session's most dramatic casualty, plunging 7.96% to $547.54. The move dragged on the Nasdaq and weighed heavily on the S&P 500, given Meta's significant index weighting. Meanwhile, gold continued its remarkable climb, with the precious metal settling at $4,374.99, reflecting a clear flight-to-safety bid as equity investors sought shelter.
Visa stood out as a rare bright spot, eking out a gain of 0.20% to close at $305.53 — a small move, but notable given the sea of red surrounding it. The session underscores growing investor caution heading into the final days of March.