U.S. stocks traded lower this morning, with the Dow Jones dropping over 1% on Thursday.

Following the market opening Thursday, the Dow traded down 1.15% to 33,144.32 while the NASDAQ fell 0.17% to 12,284.97. The S&P 500, also fell, dropping, 0.62% to 4,112.09.

Check This Out: Bitcoin, Ethereum Record Losses Following PPI Data; Pepe Becomes Top Loser

Leading and Lagging Sectors

• Communication services shares rose by 1.7% on Thursday. Meanwhile, top gainers in the sector included Magnite, Inc. (NASDAQ:MGNI), up 20%, and Taboola.com Ltd. (NASDAQ:TBLA), up 7%.
• In trading on Thursday, energy shares fell 1.7%.

Top Headline

Producer prices for final demand rose 0.2% month-over-month in April versus a revised 0.4% decline in the prior month.

Equities Trading UP

Equities Trading DOWN

Also Check This Out: Esperion Therapeutics And 2 Other Stocks Under $3 Insiders Are Aggressively Buying

Commodities

In commodity news, oil traded down 1.7% to $71.36 while gold traded down 0.9% at $2,019.20.

Silver traded down 4.6% to $24.475 on Thursday while copper fell 3.9% to $3.6910.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 dropped 0.3%, London’s FTSE 100 fell 0.7% while Spain’s IBEX 35 Index fell 0.2% The German DAX fell 0.6%, French CAC 40 fell 0.2% and Italy’s FTSE MIB Index fell 1%.

The Bank of England increased the bank rate by 25bps to 4.5%, in line with expectations.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.02%, Hong Kong’s Hang Seng Index dropping 0.09% and China’s Shanghai Composite Index falling 0.29%. India’s S&P BSE Sensex slipped 0.1%.

Economics

• Producer prices for final demand rose 0.2% month-over-month in April versus a revised 0.4% decline in the prior month.
• U.S. initial jobless claims rose by 22,000 to 264,000 in the week ending May 6, above market estimates of 245,000.

Now Read This: Wall Street's Most Accurate Analysts Say Sell These 3 Tech Stocks With Over 3% Dividend Yields

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,787,010 cases with around 1,162,660 deaths. India confirmed a total of at least 44,976,590 cases and 531,730 deaths, while France reported over 40,029,700 COVID-19 cases with 166,860 deaths. In total, there were at least 688,091,300 cases of COVID-19 worldwide with more than 6,873,000 deaths.