US Markets Slide Again as Blue Chips Lead Decline

US Markets Slide Again as Blue Chips Lead Decline

U.S. stocks rebounded sharply on Thursday, but the biggest names-known as the “blue chips”-suffered the largest drops. The Dow closed at 47,955 points, down 1.6 %. The Nasdaq Composite, representing 100 leading technology shares, fell only 0.3 % to finish at 25,020 points. The broader S&P 500 ended near 6,831 points, a decline of 0.6 %.

While equities were in the red, oil prices climbed on the back of tension in the Middle East. One barrel of North Sea Brent rose to $84.28 on the U.S. exchange, a 3.5 % increase from the previous day’s close.

Gold, meanwhile, slipped. The price fell to $5,079 per troy ounce, down 1.2 %, which translates to about €140.70 per gram.

The euro also weakened on Thursday evening: one euro bought $1.1607, meaning one U.S. dollar was worth €0.8615.