5 things to know before the stock market opens Friday

plunged nearly 500 points, moving 1.21% lower to close out the session at 40,347.97. During the session, the index lost 744.22 points, or around 1.8%, at session lows. Thealso saw losses. The broad market index tumbled 1.37% to close the session at 5,446.68, and the tech-heavy Nasdaq shed 2.3% to finish at 17,194.15. Even the small-cap, which has been surging recently, fell 3%. The sell-off came after initial jobless claims rose the most since August last year.

Olympians are feeling the heat in Paris, with U.S. gymnastics superstar Simone Biles being one of them."Don't come for me about my hair," Biles said on Instagram before Tuesday's gymnastics team final."IT WAS DONE but bus has NO AC and it's like 9,000 degrees. Oh & a 45 minutes ride." And she isn't the only one. British tennis player Jack Draper said he hadn't"played in this kind of heat for four months.

CNBC's Pia Singh, Samantha Subin, Jeff Cox, Kif Leswing, Annie Palmer, Dan Mangan, Eamon Javers and Sam Meredith contributed to this report.

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