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DJIA Ends Down 301 Pts on Concerns Over NPL Rise; Banks Plunge
Market focus shifted to concerns over non-performing loans (NPLs) in banks, coupled with the double whammy of ongoing trade tensions and a potential U.S. government shutdown, leading to a volatile session for U.S. stocks on Thursday.

The DJIA briefly plunged 472 points, or about 1%, to bottom at 45,781, and closed down 301 points, or approximately 0.7%, at 45,952. The S&P 500 finished down 41 points, or 0.6%, at 6,629. The Nasdaq fell 107 points, or 0.5%, to 22,562.

Given heightened concerns over the health of loan businesses, regional bank stocks plummeted. Jefferies Financial Group (JEF.US) fell off 10.6%. Zions Bancorporation (ZION.US) plunged 13% after the bank made massive loss provisions for NPLs to several borrowers. JPMorgan (JPM.US), Bank of America (BAC.US), and Citigroup (C.US) slid 2-3%.

AI stocks had a good run, with Salesforce (CRM.US) reducing its daily gain to about 4%, as the company expected its FY2030 revenue to cross US$60 billion, surpassing market expectations. NVIDIA (NVDA.US) rose 1.1%. Micron Technology (MU.US) climbed 5.5%. Oracle (ORCL.US) confirmed a cloud partnership agreement with Meta, boosting its stock by 3.1%.
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