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Dow loses more than 200 points Thursday to snap historic 13-day rally: Live updates

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The Dow Jones Industrial Average was finally running out of steam on Thursday as investors cashed in following an historic streak of 13 straight gains. The Dow was lower 0.67% The S&P 500 slid 0.64% The Nasdaq was down 0.55%

in the second quarter, which was better than the 2% increase expected by economists polled by Dow Jones.

"Those very high rates that scared me and the market earlier on in the year don't seem to be having as much of a negative effect as I had feared," Wharton School's Jeremy Siegel said on CNBC's "" on Thursday. "And that, combined with the fact that Powell now is saying 'I'm going to look at both sides of the equation,' I think is very positive for the markets.

The S&P 500 has been on a stellar rally of late that has taken it to 4,600 for the first time in more than a year. However, the broader market index is now showing signs of exhaustion, according to Jonathan Krinsky of BTIG.

 

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