A day after the Nasdaq composite closed at a record high with a surge in technology stocks, U.S. financial markets followed European and Asian exchanges downward Thursday as traders continue to sell risky assets and commodities and try to interpret the significance of a plummeting stock market in China and increased uncertainty over Greece’s flirtation with bankruptcy.
The Dow Jones Industrial Average (INDEXDJX:.DJI) was down 65.70 points, or 0.36 percent, to 18,097.29 Thursday morning. The Standard & Poor’s 500 (INDEXNASDAQ:.IXIC) dropped 6.29 points, or 0.30 percent, to reach 2,117.21. The Nasdaq composite (INDEXSP:.INX) lost 12.31 points, or 0.24 percent, to hit 5,094.49. The Nasdaq closed at an all-time high on Wednesday.
Major European markets were headed to a red close on Thursday, with London, Frankfurt and Paris all down less than 1 percent. Tokyo’s Nikkei closed up slightly, while Hong Kong caught the flu from the mainland, dropping 2.23 percent to 27,454 after stocks in Shanghai’s stock market plummeted more than 7 percent, the second-biggest drop of the year after Jan. 19.