Market Downturn: Nasdaq Hits Lowest Since September 2024

Wall Street experienced a significant downturn on Thursday, with the Nasdaq Composite Index falling more than 2% to its lowest point since September 2024. This decline was largely influenced by Adobe Inc.'s recent earnings report, which, despite showing a 10% annual revenue increase, left investors wary due to the company's future outlook. Adobe's shares took a hit, dropping 14.03% to $377.06 by 1:19 pm ET.

By 1:19 pm ET, the Nasdaq had decreased by 2.2%, or 433 points, while the Dow Jones Industrial Average and S&P 500 also saw declines of 1.42% and 1.51%, respectively, by 1:30 pm ET and 1:31 pm ET. Concurrently, the euro experienced a slight decrease of 0.20% against the dollar, trading at $1.08656 by 1:31 pm ET.