Dow crashes 1,200 pts, Nasdaq 100 plunges 6%

Akbar Novruz

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Wall Street markets deepened their losses on Thursday, erasing the gains recorded in the previous session as investors moved away from technology stocks amid fears that Democrats gaining control of Congress could pave the way for tighter regulations. Cryptocurrency markets also came under pressure, with major digital assets falling alongside equities.

At 10:51 am ET, the Dow Jones Industrial Average plunged 2.25%, or 1,201 points with Nvidia, Goldman Sachs and Cisco Systems dropping 8.36%, 7.27%, and 6.62%, respectively, among the index's worst performers.

At the same time, the Nasdaq 100 nosedived 6.04% with SanDisk, Astera Labs and Nebius Group nosediving 20.72%, 18.48% and 18.19%, respectively. The S&P 500 sank 3.62%. The euro traded flat against the dollar at 10:52 am ET, selling for $1.12348.