Dow Dips Over 400 Points; JD.com Posts Upbeat Q3 Results

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 400 points on Thursday.

The Dow traded down 0.92% to 47,811.37 while the NASDAQ fell 1.89% to 22,964.17. The S&P 500 also fell, dropping, 1.20% to 6,769.03.

Check This Out: Jim Cramer: Don’t Buy This Health Care Stock Yet, It Is ‘Still Too Expensive’

Leading and Lagging Sectors

Health care shares jumped by 1% on Thursday.

In trading on Thursday, information technology stocks fell by 2.1%.

Top Headline

JD.com (NASDAQ:JD) reported upbeat fiscal third-quarter results on Thursday.

The company reported a quarterly revenue growth of 14.9% year-over-year (Y/Y) to $42.01 billion, beating the analyst consensus estimate of $41.33 billion.

JD posted an adjusted net income per ADS of 52 cents, beating the analyst consensus estimate of 34 cents.

Equities Trading UP
           

• Mersana Therapeutics Inc (NASDAQ:MRSN) shares shot up 205% to $27.06 after the company announced it will be acquired by Day One Biopharmaceuticals.
• Shares of Nuvve Holding Corp (NASDAQ:NVVE) got a boost, surging 215% to $0.4916 after the company announced that NUVVE Japan concluded an aggregation agreement targeting existing stationary storage batteries in Japan.
• Ondas Holdings Inc. (NASDAQ:ONDS) shares were also up, gaining 24% to $6.82 after the company reported better-than-expected third-quarter financial results and raised its FY25 sales guidance.

Equities Trading DOWN

• Korro Bio Inc (NASDAQ:KRRO) shares dropped 79% to $6.48 after the company reported third-quarter financial results, agreed to wind-down its research and development activities after Novo Nordisk paused its agreement for 12 month. Also, multiple firms downgraded the stock.
• Shares of Applied Therapeutics Inc (NASDAQ:APLT) were down 44% to $0.5070 following third-quarter results.
• EPWK Holdings Ltd (NASDAQ:EPWK) was down, falling 33% to $0.0434 after the company announced a 40-for-1 share consolidation effective November 17.

Commodities

In commodity news, oil traded up 0.9% to $59.03 while gold traded down 0.5% at $4,194.40.

Silver traded down 1% to $52.910 on Thursday, while copper rose 0.3% to $5.1190.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.34%, while Spain's IBEX 35 Index fell 0.17%. London's FTSE 100 fell 0.80%, Germany's DAX 40 declined 0.86% and France's CAC 40 climbed 0.40% during the session.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.43%, Hong Kong's Hang Seng surging 0.56%, China's Shanghai Composite rising 0.73% and India's BSE Sensex rising 0.01%.

Economics

Stocks of crude oil in the U.S. rose by 6.41million barrels in the week ending Nov. 7.

Now Read This:

• How To Earn $500 A Month From Spire Stock Ahead Of Q4 Earnings

Photo via Shutterstock