Nasdaq drops over 1%, on course to confirm bear market

– The Nasdaq Composite index slid on Thursday, dropping 20% from its record closing high in November last year and on track to confirm a bear market, after Russia launched an all-out invasion of Ukraine.

If the losses stick through to the close, it would be the first such decline since 2020 when the coronavirus outbreak crushed global financial markets.

At 10:00 a.m. ET, the Dow Jones Industrial Average was down 646.26 points, or 1.95%, at 32,485.50, the S&P 500 was down 62.27 points, or 1.47%, at 4,163.23.

The Nasdaq Composite was down 177.33 points, or 1.36%, at 12,860.16 after having fallen up to 3.4% after the open.

(Reporting by Susan Mathew in Bengaluru; Editing by Arun Koyyur)