U.S. stocks slide on recession fears following weak economic data

S&P: 5,446.68 (-1.4%)
DJIA: 40,347.97 (-1.2%)
Nasdaq-100: 18,890.39 (-2.4%)
Eurostoxx: 4,765.72 (-2.2%)
US crude futures: 76.31 (-2.1%)

U.S. stock markets tumbled on Thursday as U.S. economic data released triggered fears of a possible recession. Initial jobless claims rose the most since August 2023, while the ISM manufacturing index came in worse than expected at 46.8%, signalling a contraction in the economy. The S&P 500 Index ended 1.4% lower after reversing early gains, led by losses in technology and energy stocks. The Nasdaq-100 fell by 2.4%, while the Dow Jones lost close to 500 points to finish 1.2% lower.

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