Thursday's session turned into a tech-led retreat, with the Nasdaq bearing the brunt of the selling pressure, closing down 1.64% at 25,625.62. The S&P 500 slipped 0.54% to 7,514.71, while the Dow Jones held up comparatively better, easing just 0.21% to 52,152.36. The Russell 2000, often seen as a gauge of domestic risk appetite, was nearly flat, finishing down just 0.06% at 2,944.08 — suggesting the damage was concentrated in large-cap technology names.
Alphabet was the session's standout loser, plunging 4.44% to $354.46 and dragging the broader tech complex with it. The move rippled through mega-cap peers and amplified Nasdaq's underperformance relative to the other major indices. When a name of Alphabet's weight stumbles, the index-level math gets ugly fast.
Bright spots were few but meaningful. Visa climbed 2.82% to $365.14, providing a rare pocket of strength in an otherwise risk-off tape. The payments giant's gain offered some cushion to the Dow, which skews more toward financials and industrials than the tech-heavy Nasdaq.
Gold continued to assert itself as a safe-haven destination, settling at $3,985.36 — just a whisker shy of the psychologically significant $4,000 level. The precious metal's persistent bid reflects lingering uncertainty beneath the surface of what has been a strong 2026 equity rally.