Stocks closed down, though were up from intraday lows. The Dow closed down 150 points, up from a session low of down 388 points earlier in the day.
dropped 0.7% to 9,750.96. Thursday's moves come a day after the S&P 500 and Nasdaq hit record highs.
"This market is just moving on momentum and, at this point, it's priced close to perfection," said Christian Fromhertz, CEO of The Tribeca Trade Group. "At this point, if we start seeing anything negative, it will probably force some people to start taking profits." Traditional safe havens such as bonds and gold got a boost on Thursday. The benchmark 10-year note yield fell to 1.52%, around its session low. Yields move inversely to prices. Gold prices climbed to a seven-year high, settling 0.5% higher at $1,620.50 per ounce.
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