Major stock indexes saw a sharp decline on Thursday, dominated by losses in technology and consumer discretionary sectors within the S&P 500. Despite the Bank of England's decision against cutting interest rates, the British pound gained strength.

Qualcomm shares fell after warning of a potential decline in dominance for its chips in future Samsung products, while Legrand's stock declined following a sales growth report that missed expectations due to U.S. tariffs.

Investor focus remains on stretched market valuations, ongoing U.S. government shutdown, tariff-related legal rulings, and the corporate earnings season. With economic data from private sources gaining attention, widespread market uncertainty persists.

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