U.S. stock markets closed lower on Thursday, weighed down by a sell-off in technology stocks. Investors were spooked by disappointing earnings forecasts and growing concerns about the overall health of the economy.

Tech Sector Takes a Hit

Shares of major technology companies, including Intel and Microsoft, saw significant declines. Analysts attributed the downturn to worries about slowing demand for personal computers and other electronic devices.

Broader Market Impact

The Dow Jones Industrial Average fell by 1.2%, while the S&P 500 dropped 1.5%. The Nasdaq Composite, heavily weighted towards technology stocks, suffered the most, declining by 2.3%.

• Dow Jones: Down 1.2%
• S&P 500: Down 1.5%
• Nasdaq: Down 2.3%

Economic Concerns Linger

Beyond the tech sector, broader economic anxieties also contributed to the market’s negative performance. Investors remain cautious about the pace of economic recovery and the potential for further interest rate hikes by the Federal Reserve.