NEW YORK, New York -- U.S. stocks saw-sawed on Thursday while the U.S. dollar rally took a well-deserved break.
Greg Bassuk, CEO at AXS Investments, told CNBC on Thursday that the main takeaway for investors is to be prepared for extended volatility. We believe that volatility is going to be the investor narrative for the balance of Q 2, and frankly, for the balance of 2022. From major gains to major losses, all the indices in the red were modestly displayed at the end.
The Dow Jones Industrials Index fell by 236.94 points or 0.75 percent to close Thursday at 31,253. 13.
The Nasdaq Composite fell by 29.66 points or 0.26 percent to 11,388, down 29.66 points or 0.26 percent. 50.
The Standard and Poor's 500 fell 22.89 points or 0.58 percent to 3,900. 79.
The U.S. dollar was under considerable pressure on foreign exchange markets. The euro went up to 1.0586 around New York on Thursday. The British pound increased to 1.2492. The Japanese yen rose to 127.70. The Swiss franc was higher at 0.9717.
The Canadian dollar was up to 1.2805. There was a huge demand for the Australian dollar, pushing it up to 0.7054. The New Zealand dollar increased to 0.6391.
The CAC 40 in Paris, France retreated 1.26 percent on overseas equity markets. The German Dax was off 0.90 percent. London's FTSE 10 0 declined 1.82 percent.
In Japan, the Nikkei 225 lost 508.36 points or 1.89 percent to 26,402. 84.
The Australian All Ordinaries slumped by 123.30 points or 1.66 percent to 7,303. 30.
In New Zealand, the S&P NZX 50 fell 51.35 points or 0.46 percent to 11,206. 93.
The Kospi Composite in Seoul, South Korea declined 33.64 points or 1.28 percent to 2,592. 34.
The Hang Seng fell 523.62 points or 2.54 percent, to close Thursday at 20,120 in Hong Kong. 68.
The Shanghai Composite gained 10.99 points, or 0.36 percent, to 3,096, against the trend. 96.