The main index plunged more than 1%
PPI data & hawkish statements are factors in the fall
Cisco is the single most profitable stock
The US30 index slipped again after being affected by strong readings of US producer inflation data and hawkish statements from Federal Reserve (Fed) policy makers.
US producer prices unexpectedly showed an increase in January with a rise of 0.7% compared to expectations for a rise of 0.4%.
This indirectly proves that the price pressure in the country is still high even though it has started to show a decrease.
Adding to investor concern was when St Louis Fed President James Bullard offered a hawkish statement that he might support a 50 basis point rate hike at the next meeting.
As a result, major indexes plunged more than 1% following the US dollar's surge to a six-week high and treasury yields the strongest in two months.
The Dow Jones Industrial fell 1.26% to 33,696.85, while the S&P 500 lost 1.38% to 4,090.41 and the Nasdaq fell 1.93% to 12,442.48 at the close of the New York session.
Cisco was the only stock to show significant gains in the Dow Jones on Thursday, rising 6% following its earnings report that beat analysts' expectations.
While the biggest losers were 3M Company down 1.14%, Disney down 3.12% and Amgen down 2.43%.
