Thursday was a quiet but persistently red session across U.S. equity markets, with all four major indices closing in the red and no single catalyst dominating the narrative. The S&P 500 slipped 0.39% to settle at 7,091.58, while the Dow Jones Industrial Average shed 0.36% to close at 48,989.41. The tech-heavy Nasdaq underperformed, dropping 0.56% to 23,646.55, dragged lower by a sharp decline in Microsoft. The small-cap Russell 2000 was not spared either, falling 0.35% to 2,744.18.
Microsoft's 3.97% decline to $415.75 was the session's defining move, pulling the broader technology sector lower and amplifying Nasdaq's underperformance relative to its peers. When a mega-cap name of Microsoft's weight sells off at that magnitude, it sends ripples across growth portfolios and index funds alike.
On the defensive side, UnitedHealth Group managed a slim 0.29% gain to $354.56, a reminder that investors were quietly rotating toward safety even if no single sector surged convincingly. Gold continued to shine as a haven asset, holding firm at $4,706.96 — a level that speaks to the persistent undercurrent of macro uncertainty coursing through markets.
With broad-based selling and no meaningful leadership from growth stocks, Thursday's session reflected a market that remains cautious and searching for direction heading into the final stretch of April.