India, Oct. 22 -- After trending higher over the past few sessions, stocks showed a substantial move back to the downside during trading on Thursday. The tech-heavy Nasdaq led the way lower, tumbling to its lowest closing level in over a month.

The Nasdaq and S&P 500 ended the day just off their lows of the session. The Nasdaq plunged 694.00 points or 2.6 percent to 26,008.86 and the S&P 500 slumped 93.74 points or 1.2 percent to 7,663.43.

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