India, April 10 -- After skyrocketing over the course of the previous session, stocks have shown a substantial move back to the downside during trading on Thursday. The major averages have all pulled back sharply following Wednesday's historic gains.
Currently, the major averages are just off their lows of the session. The Nasdaq is down 654.06 points or 3.8 percent at 16,407.91, the S&P 500 is down 174.60 points or 3.2 percent at 5,282.30 and the Dow is down 1,068.04 points or 2.6 percent at 39,540.41.
The sharp pullback on Wall Street comes as traders look to cash in on the spike seen in afternoon trading on Wednesday after President Donald Trump announced a 90-day pause on new "reciprocal tariffs."
Ongoing concerns about rising trade ...