Stocks pulled sharply on Thursday: delivered one of the worst days to investors

Stocks pulled sharply, completely erasing a rally from the prior session in a stunning reversal that delivered investors one of the worst days.

The Dow Jones Industrial Average lost 1,063 points, or 3.12%, to close at 32,997.97.

The tech-heavy Nasdaq Composite fell 4.99% to finish at 12,317.69, its lowest closing level since November 2020.

The S&P 500 fell 3.56% to 4,146.87, marking its second worst day of the year.

When the Dow surged 932 points, or 2.81%, and the S&P 500 gained 2.99% for their biggest gains since 2020.

The Nasdaq Composite jumped 3.19%.Those gains had all been erased before noon in New York on Thursday.

Large tech stocks were under pressure, with Facebook-parent Meta Platforms and Amazon falling nearly 6.8% and 7.6%.

Microsoft dropped about 4.4%. Salesforce tumbled 7.1%. Apple sank close to 5.6%.

E-commerce stocks were a key source of weakness on Thursday following some disappointing quarterly reports. The declines dragged Nasdaq to its worst day in nearly two years.