GLOBAL MARKETS-Stocks fall with tech shares; yields also decline 

Major stock ‌indexes ​fell on Thursday as technology shares slid and investors were cautious ahead of U.S. inflation data on Friday, while U.S. Treasury yields also declined.

All three of the major indexes on Wall Street were ‌down more than 1% each. Financials and technology led the way lower for the S&P 500. Investor confidence has been shaken this month by a series of selloffs in groups including software amid concern over artificial intelligence's potential to disrupt certain industries. A surprisingly strong U.S. jobs report on Wednesday eroded near-term rate cut expectations ‌from the Federal Reserve. On Thursday, data showed new applications for U.S. unemployment benefits decreased less than expected last week.

Expectations the U.S. central ‌bank could have the leeway to cut interest rates had been creeping higher until Wednesday's jobs report. Investors have been digesting this week's data and weighing the Fed's next steps, and the U.S. consumer price index (CPI), set to be released on Friday, is the next key data point.

Jay Hatfield, CEO and CIO of Infrastructure Capital Advisors in New York, said, "the ⁠bull case ​on the Fed cutting was ⁠pretty much centered around the weak employment picture, so that case was challenged." Treasury yields briefly pared declines following the data. The yield on benchmark U.S. 10-year notes fell 5.8 basis points ⁠to 4.125%, from 4.183% late on Wednesday, and is on track for its fifth drop in the past six sessions.

The Dow Jones Industrial Average fell 516.21 ​points, or 1.03%, to 49,605.19, the S&P 500 fell 78.52 points, or 1.13%, to 6,862.95 and the Nasdaq Composite fell 371.24 points, or ⁠1.61%, to 22,695.23. MSCI's gauge of stocks across the globe fell 7.92 points, or 0.75%, to 1,047.65.

The pan-European STOXX 600 index finished

0.5% lower at 618.52 points, with most regional benchmarks also reversing ⁠course ​to close in negative territory. In currencies, the dollar index was little changed. The index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.01% to 96.92, with the euro down 0.02% at $1.1868. Against the Japanese yen, the dollar weakened 0.38% ⁠to 152.66.

The yen has rallied as investors have warmed to the view that the new government in Japan will be fiscally responsible and Japan's ⁠finances may be favorable in ⁠the long run. U.S. crude fell 2.86% to $62.78 a barrel and Brent fell to $67.48 per barrel, down 2.77% on the day. Spot gold fell 2.49% to $4,951.99 an ounce.