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Stocks in the U.S. fell sharply on Thursday, following a mixed trading day. The S&P 500 is on track to finish its worst first half in decades.
The Dow Jones Industrial Average lost 509 points, or 1.6%. The S&P 500 skidded 1.2% and the Nasdaq Composite slipped 1.4%.
Home retail stocks dragged the market lower as high-end furniture chain RH saw shares drop about 9%, after it issued a profit warning for the full year. Wayfair and Williams-Sonoma were also lower by 6% and 7%, respectively.
The core personal consumption expenditures price index, the Fed’s preferred inflation measure, rose 4.7% in May, the Commerce Department reported Thursday.
The Chicago PMI, which tracks business activity in the region, came in at 56, below estimates of 58.3.
Weekly initial jobless claims inched lower, falling 2,000 to 231,000 in the week ended June 25.
The benchmark 10-year note yields fell to 3.057%.
Oil prices fell in volatile trading on Thursday as concerns over global supply appeared to outweigh a build in U.S. fuel product inventories. Brent crude futures for September, were down 96 cents, or 0.9%, at $111.49 a barrel.
August gold futures were last up $6.40 at $1,823.90.
