Market Turmoil: Technology Stocks and Bitcoin Lead Global Sell-off

Global financial markets faced a sharp downturn as US technology stocks faltered and bitcoin's price plummeted to nearly half of its previous high. The S&P 500, Dow Jones, and Nasdaq suffered significant losses amid mixed economic signals, particularly concerning the US job market.

In a tumultuous turn of events, Wall Street faced a significant setback on Thursday as technology stocks stumbled, leading a broader global market decline. The S&P 500 fell by 1.2%, marking its sixth loss in seven days, while the Dow Jones Industrial Average and Nasdaq composite recorded noteworthy downturns.

Contributing to market volatility, bitcoin crashed to roughly half its record price from last fall, exacerbating investor anxiety. Meanwhile, the bond market experienced a dip in Treasury yields, sparked by mixed reports on the US job market and its potential impact on Federal Reserve policies.

The downturn extended globally, impacting European and Asian markets heavily. London, France, and Germany's indices showed losses, while South Korea's Kospi endured one of the steepest declines, highlighting the widespread market strain.

(With inputs from agencies.)