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Wall Street slides on Fed plans; Dow falls 464 pts, Nasdaq drops 108 pts

Gloomy corporate results and forecasts also weighed on US stocks

Reuters  |  New York 

US stocks slid on Thursday, with the Nasdaq on the cusp of confirming bear market territory, as the Federal Reserve's plan to continue its balance sheet reduction and the threat of a partial government shutdown fuelled investor anxieties. At its session low, the Nasdaq had tumbled 2.85 per cent, pushing the tech-heavy index more than 20 percent below its Aug. 29 closing high. The index, along with the Dow and the benchmark S&P 500, pared losses as the session continued. The Nasdaq ended down 19.5 percent from its closing high, just shy of confirming a bear market. The ...

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First Published: Fri, December 21 2018. 02:52 IST