Wall Street’s relief at the end of the government shutdown gave way on Thursday to new fears about a flood of delayed economic data, the prospect of slowing interest-rate cuts and the extreme valuations of tech giants.
U.S. stocks posted their worst day in a month, unwinding a rally that began with news of a deal to end the federal government’s longest closure. Declines were broad, with tech stocks sliding alongside the Dow Jones Industrial Average, which lost almost 800 points. Shares of smaller companies dropped, with the Russell 2000 index losing 2.8%. Bitcoin extended a recent fall, slipping back below $100,000 to its lowest 4 p.m. level since May.
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