Wall Street suffered a third day of declines on Thursday after better than expected US growth figures failed to entirely cushion it from heavy sell-offs for chip stocks in Europe and Asia.
In a volatile session, the Nasdaq Composite swung between early losses of 1.8 per cent and subsequent gains of 1 per cent before closing down 0.9 per cent. On Wednesday the tech-heavy index suffered its worst day in 18 months, dropping 3.6 per cent.
The rollercoaster performance came after the US economy expanded at a 2.8 per cent annualised rate in the second quarter, beating forecasts and allaying concerns about slowing global growth.
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