Wall Street returned to losing ways on Thursday after an unconvincing recovery during the mid-week session on Wednesday as tech-related stocks resumed their losses and data pertaining to layoffs weighed on sentiment.

The Dow Jones ended the session down 400 points, while the S&P 500 fell over 1%. The Nasdaq emerged as the underperformer, leading the losses with a fall of 1.9%. With this fall, the Nasdaq has set itself up for its worst week since April this year. The Cboe VIX, a volatility gauge, also surged over 8% on Thursday.

Qualcomm, AMD, Tesla, Palantir, Meta, and Nvidia led the losses on Thursday with declines ranging from 3% to as high as 7%. Qualcomm's fall came despite better-than-expected results, but on a warning that it may lose future business with Apple.

Adding to the conc

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