U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.66%

Investing.com – U.S. stocks were lower after the close on Thursday, as losses in the Financials, Basic Materials and Consumer Services sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 1.66% to hit a new 3-months low, while the S&P 500 index fell 1.85%, and the NASDAQ Composite index fell 2.05%.

The best performers of the session on the Dow Jones Industrial Average were Intel Corporation (NASDAQ:INTC), which rose 1.77% or 0.46 points to trade at 26.44 at the close. Meanwhile, Microsoft Corporation (NASDAQ:MSFT) fell 0.54% or 1.38 points to end at 252.32 and Merck&Company Inc (NYSE:MRK) was down 0.63% or 0.68 points to 107.60 in late trade.

The worst performers of the session were JPMorgan Chase&Co (NYSE:JPM), which fell 5.41% or 7.46 points to trade at 130.34 at the close. Walgreens Boots Alliance Inc (NASDAQ:WBA) declined 3.45% or 1.19 points to end at 33.29 and Walt Disney Company (NYSE:DIS) was down 3.18% or 3.16 points to 96.14.

The top performers on the S&P 500 were General Electric Company (NYSE:GE) which rose 5.27% to 91.56, Phillips 66 (NYSE:PSX) which was up 1.84% to settle at 101.14 and Intel Corporation (NASDAQ:INTC) which gained 1.77% to close at 26.44.

The worst performers were SVB Financial Group (NASDAQ:SIVB) which was down 60.41% to 106.04 in late trade, First Republic Bank (NYSE:FRC) which lost 16.52% to settle at 96.00 and Charles Schwab Corp (NYSE:SCHW) which was down 12.77% to 66.47 at the close.

The top performers on the NASDAQ Composite were Ocean Biomedical Inc (NASDAQ:OCEA) which rose 125.16% to 10.56, Intuitive Machines Inc (NASDAQ:LUNR) which was up 57.80% to settle at 16.19 and Neoleukin Therapeutics (NASDAQ:NLTX) which gained 35.80% to close at 0.72.

The worst performers were Loyalty Ventures Inc (NASDAQ:LYLT) which was down 63.48% to 0.58 in late trade, SVB Financial Group (NASDAQ:SIVB) which lost 60.41% to settle at 106.04 and InVivo Therapeutics Holdings Corp (NASDAQ:NVIV) which was down 46.48% to 1.14 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2599 to 441 and 64 ended unchanged; on the Nasdaq Stock Exchange, 2995 fell and 662 advanced, while 128 ended unchanged.

Shares in General Electric Company (NYSE:GE) rose to 3-years highs; up 5.27% or 4.58 to 91.56. Shares in SVB Financial Group (NASDAQ:SIVB) fell to 5-year lows; falling 60.41% or 161.79 to 106.04. Shares in First Republic Bank (NYSE:FRC) fell to 52-week lows; falling 16.52% or 19.00 to 96.00. Shares in Loyalty Ventures Inc (NASDAQ:LYLT) fell to all time lows; down 63.48% or 1.00 to 0.58. Shares in SVB Financial Group (NASDAQ:SIVB) fell to 5-year lows; down 60.41% or 161.79 to 106.04. Shares in InVivo Therapeutics Holdings Corp (NASDAQ:NVIV) fell to all time lows; falling 46.48% or 0.99 to 1.14.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 18.37% to 22.62.

Gold Futures for April delivery was up 0.92% or 16.75 to $1,835.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 1.47% or 1.13 to hit $75.53 a barrel, while the May Brent oil contract fell 1.42% or 1.17 to trade at $81.49 a barrel.

EUR/USD was unchanged 0.32% to 1.06, while USD/JPY fell 0.90% to 136.10.

The US Dollar Index Futures was down 0.34% at 105.27.