US stocks fell on Thursday, with the Dow Jones Industrial Average dropping more than 500 points amid a sell-off in Alphabet and Tesla and a spike in oil prices, according to CNBC.
Key facts
- The Dow Industrials fell more than 500 points on Thursday, per CNBC.
- A sharp sell-off in Alphabet and Tesla pressured the market, CNBC reported.
- Oil prices spiked, according to CNBC.
- CNBC cited the moves in a preview of stories likely to influence Friday's trading session.
US stocks tumbled on Thursday, pressured by a sharp sell-off in Alphabet and Tesla as well as a spike in oil prices, according to CNBC. The Dow Jones Industrial Average shed more than 500 points.
CNBC reported that the sell-off in shares of Alphabet and Tesla was among the main factors weighing on the market.
A spike in oil prices added to the pressure during the session, CNBC said.
CNBC cited the developments in its preview of the big stock stories likely to move the market in the next trading session.
Why it matters
Alphabet and Tesla are widely held stocks, and a sharp single-day decline in the Dow can affect broad market indexes. The source does not detail the causes of the individual sell-offs or the oil price move, and further information was not yet available.
Frequently asked questions
How much did the Dow fall on Thursday?
According to CNBC, the Dow Jones Industrial Average shed more than 500 points during Thursday's session.
What caused the market decline?
CNBC attributed the drop to a sharp sell-off in Alphabet and Tesla shares, along with a spike in oil prices.
Why do Alphabet and Tesla moves matter to the broader market?
Both are among the most heavily traded and widely held stocks, so significant moves in their shares can influence major indexes, as reflected in CNBC's coverage.